Buying Orlando Foreclosures

 

In the real estate market, it is not uncommon for some homes to go into foreclosure. If you are looking into buying a home in the Orlando area, it may be possible to purchase a foreclosed home, saving you valuable money on your real estate investment.

What is a Foreclosure?

If a homeowner is unable or chooses not to make their mortgage payments on their home, the lender who holds the mortgage will be forced to foreclose on the property in order to recoup their loses. If this happens, the home is often offered for sale at a "lower than market value price".  If the home is not sold, the court will eventually order a public sale of the property for usually far less than the actual value of the property.

It is important to note however, that simply because a home is up for foreclosure, it does not mean that it is necessarily worth your money to purchase. As a well advised prospective home buyer, it is imperative that you research the area, issues concerning the property as well as comparative homes in the area to ensure that you are getting the most for your money.

Also important to note when looking into buying a foreclosed property is the length of time it may take in order to gain possession of the property. Buying a foreclosure can be a long process that may require you to wait weeks or months for the final closing and transfer of paperwork.

The benefits to buying a foreclosed property can be great. You could save up to 30 or 40% on the home's original value, making it possible to afford to buy in neighborhoods that are otherwise out of your price range. However, if the home needs repairs that you are not aware of, you may end up getting more than you bargained for.

As such, it is important that you contact someone who can help you ensure that you are getting a fair deal on your foreclosure. Make sure you are getting the best deal and protecting your investment when buying an Orlando foreclosure.  Call us at 321-299-0400 or send an email.

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Orlando Homeowners - Avoid Foreclosure


It happens to many people - life.  Take action before life's challenges force a foreclosure on your Orlando home!

You may be having trouble meeting your financial obligations to your mortgage lender, and you see no other option except to let the lender foreclose on their home. If you find yourself in this situation, you should be aware that there are other options that may help you avoid foreclosure.  It is important when identifying your plan of action that you determine if your problem is simply short term or whether it is a long term situation.

Avoid Foreclosure When You're Having a Short Term Cash Problem

If you are simply having a short term cash flow problem affecting your home, your lender may be willing to negotiate to help you through this difficult time. You may be able to establish a repayment plan for your missed payments, alter the terms of your loan or simply add back payments to the loan amount. Of course, it is up to your lender to work with you, but if you find yourself still without a solution, you have other options you could look into as well.

Avoiding Foreclosure With A Short Sale

For many who are facing foreclosure, a short sale may be a viable option for them.  A short sale is a situation where your lender agrees to accept less than the total amount of your mortgage from the proceeds of a sale.

The short sale process is usually a complex one.  There are a number of parties involved, and lots of details to attend to.  If you decide that a short sale may work for you, it is important that you find a qualified professional to guide you through the short sale process, and to help ensure that your investment is protected to the greatest extent possible. 

Make sure you get the advice that will help you make smart decisions if you find yourself in a financial bind.  Call us at 321-299-0400 or send an email.

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Orlando FL Homes for Sale

 

 

Orlando Foreclosures

 

CFL Realty Team - Orlando FL Homes for Sale

10967 Lake Underhill Rd. Suite 124-B 
Orlando, Florida 32825
321-299-0400

 

Robert Santiago - Orlando FL Homes for Sale - Foreclosures

Robert Santiago
Direct 321-436-6828

 

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