Under a short sale, a lender must agree to accept less than the amount that is owed on the property. Florida Keys Short Salesįlorida Keys short sales occurs when a home owner is in foreclosure but before the property goes to public auction. Real estate investors and home buyers see profit in buying foreclosures because they can often buy the property for the amount owed, picking up the home owner's equity for free. Also the property can be bought in pre-foreclosure during the short sale process. Not all Florida Keys foreclosures that fall into foreclosure go to public sale because owners have the right to make up back payments up to a point, the time which varies from state to state. In the final step of the foreclosure process, the lender tries to auction the property at a public sale. If the Fl Keys home owner does not bring the loan current, the lender will take the property away from the owner. Lenders can foreclose Florida Keys homes for other reasons, but the most common reason lenders file a notice of default is when a borrower is at least two payments behind. Florida Keys Foreclosures are hot properties because the real estate market in the Keys is highly sought after.
It means the owner has stopped making mortgage payments and the lender has given notice that unless the payments are brought up to date, it will sell the property to the highest bidder. A Florida Keys foreclosure property is a home in foreclosure, when a notice of default has been filed in the public records.
0 kommentar(er)
