Foreclosures and Short Sales

Unfortunately, foreclosures and short sales go hand in hand. Very rarely will the mortgage companies not file the foreclosure suit when the mortgage is six or seven months past due (completing the foreclosure in another matter entirely).

So, what do you do when you short sale may go under because of a foreclosure sales? Well, my best advice would be to establish a relationship with a foreclosure defense attorney who has a proven track record. A candid conversation will need to take place at the outset about how much time will be needed to complete the short sale, and how much money the foreclosure defense will cost. Everyone needs to be on board as you don’t want to be in a situation where your advice appears to be compromised.

Many times, you may only need a month or two to complete the short sale and everyone will be happy with a defense that will cost very little. Other times, the homeowner will wait until they receive the lawsuit before they decide to contact a realtor. When the homeowner procrastinates, the whole process becomes a bit stressful for everyone and can lead to higher costs.

Realtors are in the unique position to assist homeowners in many ways. The realtor has a vested interest in helping the homeowner achieve their goals. They can discuss the pros and cons of selling the home. They can introduce the homeowner to appraisers, inspectors, attorneys and whomever the homeowner may need to speak to. They can build a relationship that can bring referrals for life!

DELLUTRI LAW GROUP
CARMEN DELLUTRI, ESQ.
KMarshall@DellutriLawGroup.com
Download VCard
Phone: 239.939.0900
Fax: 239.939.0588
1436 Royal Palm Square Boulevard
Fort Myers, Florida 33919