Many people have this question on their mind, I get asked this question almost weekly. Most of the phone calls come from people owning property in Cape Coral and Lehigh Acres Florida. Joe, do I a let my home go back to the bank or do I do a bank short sale? My responce has always been, everyone's situation is different, you should sit down with your account and talk to a real estate attorney about your personal situation, you need to get sound advice before you make a decision on your home and your personal future.
If they advise you that your best interest is to avoid forclosure by doing a Bank Approved Short Sale by all means, I will help you with your lender on their required documents and market your home for sale as a bank short sale.
The waiting period to be able to buy a home in the future after closing on a bank short sale is 2 to 3 years, while a Foreclosure is closer to 4 to 5 years depending on how well you work toward repairing and improving your credit after the bank approved short sale.
I advise my clients after your home has been closed on the bank short sale, Take your closing documents and make an appointment with a Credit Counseling Company and work with their direction to get the redemption of mortgage recorded on your credit score and work with their professional advise to get your credit score on the up ward climb again. You have to understand this will take some time and guidance. but it will be worth the time and money to get you on the right road with restoring your credit. But it will get done and your foreclosure issue with your home will have been just a bump in the road .
I look forward to talking with you.
Listing and Selling Southwest Florida Homes, Condos Waterfront & Luxury Homes!
Joe Kendall BROKER "Broker Joe"
Keller Williams Realty Fort Myers & The Islands,
16 years of experience to offer You!
Fort Myers / Fort Myers Beach / Cape Coral / Bonita Springs / Naples/ Sanibel Island
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