Homeowners facing foreclosure risk, not only the loss of their home, but they may take a major hit on their credit score virtually eliminating the chance of purchasing another home in the next 10 years.

If done properly, a Short Sale will stop the foreclosure, save the homeowner's credit, and protect them from future liability from the bank.

You Need Someone On Your Side. Quite often when a homeowner is facing foreclosure, they feel like it is "them against the world". Most of the time they are just a victim of unfortunate, and unforeseen circumstances which have placed them in a terrible position. In order to be protected, you need an experienced Short Sale Expert to negotiate with your lender(s) on your behalf. You need someone who has experience dealing with lenders, and who is working for you, and protect you.

In addition, you need a Realtor who has experience with short sales to get your property on the market, market it properly, get it sold, and protect you in the process. Short Sale Solutions of Florida has experienced negotiators, a team of over 200 Realtors, and experienced Title and Closing Professionals to insure you are protected. Best of all, there is no fee to you as this team is paid directly by the lender at closing.

You can find more information about Florida Short Sales , and discover how Short Sale Solutions of Florida can help you avoid foreclosure at www.HelpingFlorida.com.

What is a Short Sale? A short sale means the seller's lender is accepting less than the mortgage balance to release an existing mortgage. Just because a property is listed with short sale terms does not mean the lender will accept your offer, even if the seller accepts it. Lender acceptance may depend on several elements of your offer as well such as the percentage of your down payment, closing date, other negotiated terms, and possibly whether or not you are pre-approved for a mortgage.

As a general rule, the seller will need to be in default on their mortgage and must have stopped making mortgage payments, before a lender will consider a short sale.

Always Hire a Realtor That Has Experience With Short Sales A Realtor experienced with Short Sales can help you find properties that are being sold as Short Sales. Often these properties are only advertised as Short Sales to the Realtor community through the Multiple Listing Service, and are not readily available to the general public.

If you are a Seller who finds yourself in a possible Short Sale situation, it is absolutely essential that you utilize the services of a Realtor who is experienced in Short Sales.

Regardless of if you are buying or selling a Short Sale property, a Realtor with experience in short sales will help to expedite your transaction and protect your interests. You don't want to miss any important detail due to inexperience or find out your transaction is not going to close on time because no one has followed up in a timely manner.

Find Realtors With Short Sale Experience at www.HelpingFlorida.com

You can't just decide you're going to sell your home at a loss by asking your lender for a short sale, and expect them to readily agree. Lenders will more than likely not consider a short sale if your payments are current. Sellers need to provide a hardship letter to the lender. Sellers may also owe taxes on the amount of debt that is forgiven.

Submitting Your Offer to The Lender After the seller has accepted your offer, your Realtor will send it to the lender for approval. Keep in mind that, even though the Seller has accepted the offer, the contract is not valid until it is accepted by the Lender. The lender will review the offer in detail and will schedule a Broker's Price Opinion (BPO) which is a sort of abbreviated appraisal, comparing this property with other comparable properties that have recently sold or are currently for sale.

Timing Is Everything A very important notion to keep in mind is that the Short Sale process takes a considerable amount of time. Depending on the details of the situation, a Short Sale will typically take much longer than a traditional sale, because of all the added steps involved in the process. Be patient, and let your Realtor make sure all the important details are taken care of.

Foreclosure vs. Short Sale Most mortgage experts agree that sellers will take a bigger hit on their credit score by going through foreclosure versus a short sale. The effect on credit will show up as a pre-foreclosure in redemption status, which will result in a loss of 80 to100 points on the FICO score versus 250 -- 280 points with a foreclosure. If you're a seller trying to decide whether to let a home go through foreclosure versus attempting a short sale, salvaging your credit is the main advantage to doing a short sale. Always seek legal and tax advice before making any decision regarding a short sale. Always consult an experienced Realtor when thinking of buying or selling a short sale property.

Please Visit www.HelpingFlorida.com for more Florida Short Sale Information.