Jacksonville Beaches Real Estate

Here is the "official definition" of a short sale Qualifications for a Short Sale Before you eagerly climb aboard the short sale bandwagon, consider the following to determine whether you may qualify for a short sale. If you cannot answer yes to all four requirements, you may not qualify for a short sale. The Home's Market Value Has Dropped. Comparable sales must show that the home is worth less than the balance due the lender. This unpaid balance may include a prepayment penalty. Have your Realtor do a CMA or BPO on the house to be sure. A Realtor will do a CMA for free. Some lenders might require a appraisal. The Mortgage is in Default. A lender will not consider a short sale if the payments are current. As long as the lender is receiving timely payments, the lender is satisfied. You should probably be 60-90 days late on the mortgage payments. Please contact your lender direct to see if they will work with you to get the payments current. Some are being more helpful...

I attended a 3 hour seminar today about the Short Sales opportunities we now have in the Jackonville market. There are SO MANY of them on the market! I found out that not all "upside down" homes are true short sales. The criteria is very clear on what qualifies as a short sale. The seller must a) be insolvent with NO ASSETS (no IRA, no 401K, car paid for car, no boat NOTHING of value. b) must be behind on the payments (60-90 days) c) mortgage balance must be higher than actual market value d)Seller didn't cause the problem that caused the issue (medical bills, act of nature etc). Wow. That's not quite what I thought a short sale was. I thought if you were upside down, and you wanted the bank to take less than you owed; you were a short sale. Wrong. The guidelines are very clear. Are you facing troubled times with your mortgage? There is help out there. I have contact numbers for several agencies that can help. Please call me before the situation gets any worse. The fu...

Once again, the interest rates have begun to creep back up. Now is the time to lock in your rate and BUY A HOUSE! My seller at 12641 Ashglen Drive N is entertaining offers. This home is the least expensive home in the South Kernan Blvd area. Priced at $199,900.