Christina Barone/Team Barone New Tampa Real Estate
A Realtor You Can Trust, A Realtor For Life

Tampa Short Sales,Tampa Short Sale Specialist, Short Sale Tampa Home


 
No Equity,Need To Sell, Let us help you short sale your Tampa Home!!! Tampa Short Sale Expert.
 

Short Sale vs Foreclosure

Buying Again After a Short Sale

If your payments have never fallen behind 30 days late and the lender does not require that you pay back the loan, Fannie Mae guidelines may allow you to buy another home immediately. The wait for an FHA loan is 3 years.If your payments are in arrears yet a short sale is granted by your lender, you may qualify to buy another home with a Fannie-Mae backed mortgage within two years, regardless of whether the home is your primary residence. 

Buying Again After a Foreclosure

With certain restrictions, you may be eligible to buy another home in 5 years if the home was your primary residence. Without restrictions, the wait is 7 years.If you are an investor and do not occupy the home, the wait to buy with a Fannie Mae insured loan is 7 years.

Affects on Credit After a Short Sale

A short sale is not a derogatory mark on your credit because credit bureaus do not show the word "short sale" on your credit report. It may say "pay as agreed" or "paid as less than agreed," among other categories. Some clients have reported negative FICO score drops from 50 points to 75 points.

Affects on Credit After a Foreclosure

A number of sources have reported FICO score drops from 200 to 400 points after a foreclosure. Generally this credit score will remain on your credit report as a public record for 10 years. 

Credit Reports After a Short Sale

All lenders report short sales differently and some do not report them to the credit bureaus at all. 

Credit Reports After a Foreclosure

If a prospective employer runs a credit check on you, your job application may be denied if you have a foreclosure on your record. 

Deficiency Judgments After a Short Sale

Judgments are often negotiated between the seller and the short sale bank.  

Deficiency Judgments After a Foreclosure

Banks are unwilling to negotiate deficiency judgments with the homeowner after a foreclosure. In California, for example, according to the California Association of REALTORS, a deficiency judgment may be filed regarding a hard-money loan if the lender forecloses under a judicial foreclosure versus a trustee sale or if the second loan is a hard money loan and the sale takes place as a trustee's sale. 

Loan Application Questions After a Short Sale

Loan applications do not ask questions about a short sale. You may report that you sold your home. 

Loan Application Questions After a Foreclosure

You are required to answer the question: "Have you ever had a property foreclosed upon or given a deed-in-lieu thereof in the past 7 years." If the bank sees you have had a foreclosure, your loan most likely will be denied. If you lie, you may be subject to investigation by the FBI for mortgage fraud

Length of Time to Move After a Short Sale

If you've had a foreclosure notice filed, you may be able to postpone that action while the bank considers your short sale. The wait for short sale approval can be from 2 to 3 months, or longer. 

Length of Time to Move After a Foreclosure

Unless prior arrangements have been made, the bank may want you to immediately vacate the property and can commence eviction proceedings. 

Taxation After a Short Sale

A personal residence is exempt from mortgage debt relief until the end of 2012 on a federal level. Some states will still tax you unless you qualify for an exemption. An investor is not exempt from mortgage debt relief, subject to certain conditions. 

Taxation After a Foreclosure

Same as with a short sale. Except some lenders immediately send out 1099s, even if the owner is exempt.

Good market or bad, we’ve sold homes just like yours. Time after time the sellers and buyers have walked away delighted with the deal. Can you imagine selling your house for less than what is owed on it and walking away not owing a dime? We’re doing it right now, even in these so-called ‘impossible’ times.
 
 
ALL WE WANT TO DO IS LISTEN… 
 
Tell us what you want to see happen to satisfy your current situation. After listening we’ll most likely have a few questions. Even though a lot of others are in the same boat, each individual situation is different. Once you’ve given us a clear picture, we’ll begin marketing your home to hundreds of thousands of buyers from all over the world, every month. Let a Tampa short sale expert sell your home!
 
 
NEW HOPE WITH EACH DAY…
 
Everyday tens of thousands of people looking for homes will see your listing. They’ll inquire and make offers. Wouldn’t it just be worth it to see some positive action and good things coming your way for a change? Short Sale your Tampa home today!
 
 

We have helped many homeowners walk away without paying a dime!!! 

           QUALIFY FOR A TAMPA SHORT SALE???
     
   
  • Owe more than your house is worth?
   
  • Cant make your mortgage payments?
   
  • Do you want to Avoid foreclosure?
  • Save your credit?
   
  • Pay no commission to sell your home? No cost to you,lender pays us!
   
  • Is your mortgage to high?
   
  • Want to sell your house but there is not enough equity? Cant bring money to the closing table?
   

 

   

Call us today to find out how to sell your Tampa home in a short sale process.

 

Christina Barone 813-294-4464
 

 

Prudential Tropical Realty is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating. 

 

 
 

 


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