DEBRA PAYNE

Florida Rentals, call RE/MAX Navigator, Clermont Florida 352-242-9200

RE/MAX Navigator Property Management Division serves all of your residential leasing and management needs in the Clermont - Orlando area. We provide exceptional service for rental homes in the cities of Clermont, Leesburg, Tavares, Mount Dora, Winter Garden, Davenport & Orlando areas. When searching for a Property Manager, look for a dedicated professional. Call Marlene Moreno, Director of Property Management, 352-242-9200 or email MMoreno_Florida@yahoo.com

RE/MAX Navigator Property Management Division serves all of your residential leasing and management needs in the Clermont - Orlando area. We provide exceptional service for rental homes in the cities of Clermont, Leesburg, Tavares, Mount Dora, Winter Garden, Davenport & Orlando areas. When searching for a Property Manager, look for a dedicated professional. Call Marlene Moreno, Director of Property Management, 352-242-9200 or email MMoreno_Florida@yahoo.com

• What is a Short Sale? A short sale is when the bank is willing to accept less than the actual payoff on the loan. Why would a mortgage company do that? A foreclosure is a lose, lose situation for the mortgage company as they lose revenue, the mortgage insurance company loses premiums and pays a claim, the investor is not collecting principal or interest, there is potential damage to the property and lower property values have a negative effect on the real estate market.

• But, the homeowner has the most to lose with foreclosure on your credit record for up to 7 years which can be viewed negatively by lenders, employers, and insurance companies. Short Sale is a Win Win Therefore, a short sale can actually be a win, win for everyone. The mortgage company reduces their losses, the mortgage insurer minimizes claim payment, and additional damage to the property is avoided during a foreclosure. The real estate market does not experience as much negative stigma, therefore property values do not go lower. And, the homeowner can successfully sell their home and not have a foreclosure on record.

• How is all this accomplished? First of all, any homeowner who is experiencing difficulty in making the monthly payments should call a reputable Realtor experienced in negotiating short sales. There is an art to it, to say the least. The Realtor will discuss the current market value and the amount necessary to payoff your mortgage. The most important action should be to actively list the home on the market for sale.

• If the homeowner owes more than the current market value, the experienced Realtor will contact the lender's loss mitigation department and assist the homeowner will all the documentation necessary to facilitate a short sale. One of the most important documents being the hardship letter, which can make or break the deal. Other documents would include 2 years tax returns, 2 months pay stubs, 2 months bank statements, and the most current mortgage statement. One very important factor that most lenders do not tell you, is that the homeowner is liable for any deficiency in the short sale.

• But, a Realtor experienced which is VERY important in negotiating short sales can often times negotiate with the lender for the deficiency judgment and 1099 to be waived, reduced or ask for an interest free promissory note. Lastly, to all homeowners it is never too late or too early. The most important asset you have is your home.

• Please give me a call to get your home on the market for sale and avoid foreclosure. And, you may know of someone in that situation, tell them to contact us immediately. For investors, a short sale can be a wonderful buying opportunity. We can provide you with a list of short sales and or foreclosures in Florida. www.central-fla-homes.com or email me debrapayne@remax.net, let me know how we can help.