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Let’s discuss first what a shortsale is. When the current market value of a home for sale is lower than the 1. and 2. mortgage of the seller, we are talking about a short sale. If you recall the last few years in real estate, the property values increased annually by between 15% and 23% depending on the location in Florida. Before the drop, Banks made 100% financing readily available. Increases in property tax and property insurance nailed the coffin for many homeowners.

We have homes for sale that are bank approved short sales. That means the bank is cutting their loss and already agreed to a lower mortgage balance and lower interest rate to enable a sale for a real competitive price. This is ultimately in the interest of the bank as well, considering they are in the lending business and not in the property management business. There are non-profit organizations that can help you. Call Ulrike at (727) 688-2520 for more information.