Florida Title Attorney Views HAFA Short Sales as Strong Option for Underwater Homeowners

Florida Title Attorney Views HAFA Short Sales as Strong Option for Underwater Homeowners

 

As a Key Largo real estate lawyer, I have written extensively on the potential benefits of short sales.¬† A Short Sale is the sale of real estate where the¬†proceeds from the sale¬†are less than the balance owed on the property‚Äôs loan(s).¬† As a result, the seller does not realize enough money from the sale to pay off the loan(s) in full.¬† In a successful short sale, the lender allows the homeowner to sell the property for less than the outstanding balance of the loan(s).¬†¬†Because lenders that agree to take less than the full balance are being ‚Äúshorted‚ÄĚ, the term Short Sale was created.¬†

Lately, many of the transactions we have¬†closed are HAFA Short Sales.¬† A HAFA short sale is part of the government’s Home Affordable Foreclosure Alternative program.¬† If a seller qualifies for a HAFA short sale, the homeowner will receive a release from the any deficiency balance from his/her lender.¬†¬†The homeowner will also receive up to $3,000 in relocation money from their lender.¬† Please call our Islamorada real estate lawyers to find out whether you qualify for a HAFA Short Sale.¬†

As a Coral Springs title company which has closed thousands of real estate transactions on behalf of real estate professionals, many homeowners contact us about potential short sales.¬† Many¬†homeowners throughout Florida owe more on their house than it is worth.¬† Sadly, many of these¬†‚Äúunderwater‚ÄĚ homeowners lose their homes to foreclosure rather than negotiating a Short Sale.¬†

If you or a loved one is “underwater” and considering your options, including a short sale, call the¬†Coral Springs¬†real estate lawyers at the Law Offices of Erik S. Bloom, P.A. today for a fee consultation.¬† We are available to meet with you¬†and to¬†discuss your situation.¬† Please call us at (954) 603-0550 or you can email us at [email protected] to schedule a complimentary appointment.

#

Coral Springs Office:
11555 Heron Bay Blvd. Suite 200
Coral Springs, FL 33076

Phone: 954-464-3210

Key Largo Office:
102901 Overseas Highway,
Key Largo, FL 33037

Phone: 954-464-3210