Do you owe more than your Wellington FL home is worth?
If you have recently suffered a hardship or have arrived to a point where you can no longer keep up with your monthly mortgage payment you may have alternatives to bankruptcy or foreclosure proceedings.
One alternative is a loan modification (payment adjustment), but not all Wellington FL homeowners will qualify for this option.
Another popular alternative is a short sale, which is when your lienholder(s) allows you to sell your Wellington FL home for less than what your loan balance is. Many lienholder(s) will approve a short sale in order to avoid going through the costs of foreclosure, but there are no guarantees.
Here is a list of possible short sale hardships:
- Loss or reduction of income
- Loss Job
- Loss of Assets
- Divorce or separation
- Illness or disability
- Death
- Business failure
- Damage to property
- Job relocation
- Medical Bills
- Incarceration
- Military Service
- Increase of household operating expense(s) (mortgage payment, taxes, insurance, HOA, utilities, etc.)
- Too much debt
Contact us today for a free no obligation consultation to find out if a short sale might be the right option for you.
If you are unsure of your homes value find out now by filling out our Online Home Questionnaire.
