AVOID FORECLOSURE
In partnership with America's #1 Short Sale Firm, with over 10,000 approval letters in the last 25 years.
AVOID FORECLOSURE
In partnership with America's #1 Short Sale Firm, with over 10,000 approval letters in the last 25 years.
HAVE YOU BEEN SERVED FORECLOSURE PAPERS?
There is a solution that in most cases, can prevent a foreclosure sale, can provide you with financial relocation assistance, avoids the threat of a deficiency judgment with no tax consequences and allows you to financially recover quickly, without excessive legal fees.
What is a short sale?
With a short sale, a lender agrees to reduce the amount owed on their mortgage to facilitate the sale of the borrower's (property owners) real estate, so that all liens and closing costs of that sale are satisfied. In this case, the borrower (a/k/a property owner) does not need to come to closing with funds to sell their real estate. This normally occurs when a borrower's financial obligation is greater than what a borrower's property can sell for, due to accruing back mortgage payments, lender attorney fees, and necessary repairs and maintenance to the borrower's property to procure a sale at the value needed.
In the short sale process, the borrower maintains ownership and possession of their property until their lender approves a sale (by agreeing to a pre-determined mortgage reduction and scheduled closing date) of the borrower's property.
Here are the key important benefits of completing a short sale, in comparison to a foreclosure:
- A short sale eliminates all borrower's remaining debts and obligations associated with a property facing foreclosure. This includes second and third mortgages, property taxes, insurance, and potential homeowners or condominium association assessments.
- The borrower may be able to receive relocation assistance (in some cases $3,000 - $15,000)
- A short sale has substantially less of a negative impact on the borrower's credit compared to a foreclosure. Often a borrower that completes a short sale can qualify to borrow money to purchase real estate again within a couple of years, compared to waiting up to seven years if they allow their property to go to foreclosure.
- Often in a short sale, a borrower can have a deficiency judgment waived as a condition of the short sale approval letter, which is not possible after a foreclosure sale has occurred.
- The borrower can sell their property “As Is”, regardless of condition.
Meet our Florida short sale broker
Troy Funk, CDPE
Broker / Associate
Realty One Group Sunshine
Troy Funk's experience with the Florida short sale process
To introduce myself, my name is Troy Funk and I am a licensed Florida Real Estate Broker with over 34 years of experience. During that time, I have helped hundreds of property owners and worked closely with borrowers in the process of short sale negotiations, pre-foreclosure workouts, cash for keys, and foreclosure assistance. In addition, I have worked for some of the largest lenders in the country with REO Asset management and understand the process from both sides, to come to a resolution that works best for everyone.
After my divorce and the last major real estate correction, I was personally facing foreclosure on multiple properties I owned and was burdened by a negative debt of over a million dollars. Through personally completing several short sales on multiple properties I owned, I was able to financially recover and start buying real estate again. I did this without ever filing for bankruptcy, incurring excessive legal fees, without additional tax or legal consequences, and without having a deficiency judgment filed against me (which I had confirmed in writing from my former lenders).
As a result of successfully completing multiple short sales, I have dedicated my career to becoming a short sale advocate to help others facing financial hardship.
a few of our Closed Sales
SELECT PORTFOLIO Reduced Mortgage to accept $199,465 to complete Short Sale
SELECT PORTFOLIO Reduced Mortgage to accept $199,465 to complete Short Sale
SELECT PORTFOLIO Reduced Mortgage to accept $199,465 to complete Short Sale
Deficiency waived - Property was held in title by multiple owners
Avoided HOA foreclosure
Bank Of America Reduced Mortgage $431,101 to complete Short Sale
SELECT PORTFOLIO Reduced Mortgage to accept $199,465 to complete Short Sale
SELECT PORTFOLIO Reduced Mortgage to accept $199,465 to complete Short Sale
Deficiency waived
with no seller contribution or promissory note
Wells Fargo Reduced Mortgage $146,209 to complete Short Sale
SELECT PORTFOLIO Reduced Mortgage to accept $199,465 to complete Short Sale
Wells Fargo Reduced Mortgage $146,209 to complete Short Sale
Deficiency waived
$3,000 in Relocation Assistance
House was vacant and had excessive damage
Contact Us
Florida Short Sale | Broker, Realty ONE Group
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Troy Funk, Florida Short Sale | Broker/Associate
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