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Keep Away from Gainesville Short Sale Scams

Keep Away from Gainesville Short Sale Scams

It is hard to trust anyone when you are a homeowner that is facing a huge mortgage debt and soon enough you’ll know the bank wants your home foreclosed. Well, there are definitely people out there who won’t go with the help but with the money they can benefit from you.

As a Gainesville Short Sale Agent, please listen and take time to read this article. If you are choosing short sale as an option, you have to know what a short sale is, and know how to short sale. It is crucial to know the basics of the process that you are about to go through. Choose reliable information from trusted references. Do not just accept everything as a fact. When choosing a short sale agent, know her/his background first, or choose agents that are referred to you and know them well.

If a short sale enterprise calls you and immediately deliver good news of accepting your property for short sale, be skeptical about how quick their decision is because there are many instances wherein not every short sale are guaranteed.

And especially if it wants you to pay upfront about the charges, please call the Attorney General’s Office because it is prohibited in Florida for a company to charge an upfront payment in order for you to be able to short sale your home. Except lawyers who can charge clients with retainer fee.

There are many companies out there and not all are legitimate. As an agent, homeowners always asked about the short sale process. It is normal; I know you are just being safe. It is better to do your research over these companies before signing any deed.

Third parties may coerce you to sign some papers because this might lead you to a sinkhole. If this might happen, they can now have total control with the sale of your cherished home. There are companies that advertised they’ll buy unsightly properties or pay upfront cash for your house even if it looked bad and you owe the bank a lot.

Most Banks even changed their policies and procedures over time. Our company, Anson Properties LLC, can help you with your short sale problem. Call us so we can talk everything over the phone, 352-260-0153. We take high respect on your information’s confidentiality, and we will answer questions that you want to ask. Call us.

Other Articles to Read:

Gainesville Homeowners – Have an FHA Loan – Help on the Way

Gainesville – Principal Loan Reduction

Gainesville Short Sale Agents Rent To Buy Scheme

Gainesville Florida Foreclosure Fraud Up – Avoid Scams

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents

  

How Can I Avoid Foreclosure? | Gainesville Short Sale

There are a handful of Gainesville Short Sale Agents out there to make you understand about Short Sale. Often, the question that might come into your mind is “Am I making the right choice?.” If you are a homeowner currently in a tough state and confronting issues including foreclosure, or your loan modification have been refused, or you already tried seeking help in your trusted bank but your end did not meet, and with all these, you felt that there is no other options left.

Well, the world definitely did not end last December 21 and it is not yet the end for you, but with the Short Sale alternative, it’s a good option aside from foreclosure and can be the end to your problems.

What is a Short Sale? A short sale is   selling your home in an amount lower than the mortgage that you owed in the bank. For instance:  you are indebted to the bank $150,000 on your house, then you offered your house to the bank for only $75,000. The bank will forgive the other $75,000 that you are indebted with them.

Now, why would the bank do that? On the part of the bank, putting up on short salewill keep them from legal expenses that would run from $10,000 to $35,000 or more if they will foreclose it. Take note that the bank does not want to purchase a house; their business is not on buying and selling homes but acting as a mediator.

How to qualify for a short sale? In most states, there are different laws surrounding real estate. It is necessary that you consult a Gainesville short sale agent as she can provide you all the information that you need to qualify for a short sale and will help you on the process.

To legally list a short sale, one should have a real estate license. That’s why it is crucial to choose an agent that has the skills and experience to sell a home sale home. That your short sale agent has worked with different lenders, since each lender has different rules and regulations toward short sale.

The Gainesville short sale agent that you choose will ultimately influence the short sale process. Our team has the best short sale agents in the county, and if you have further questions, contact our office 352-535-0620. 

Other Articles to Read:

Gainesville Short Sales Hiring Incompetent Short Sale Agent

Short Sale Top 10 Questions

 

Call Stephanie Anson today at 352-535-0620 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.

  

3 Mistakes to Avoid with Short Sales | Gainesville

3 Mistakes to Avoid with Short Sales | Gainesville

Short sale is a very complex process. It is quite confusing to those who are unfamiliar with its dos and don’ts. Many people have a hard time understanding short sale and there are even agents who lack the necessary knowledge and skills to handle short sale transactions.

As given, you will want a successful short sale and to do this, your first priority should be looking for an experienced short sale agent. These agents know exactly how to prevent short sale missteps, and the necessary steps involved with the whole short sale process. The experience they earned will serve as a guide toward a successful Gainesville home short sale.

So Mistake No. 1 is hiring an agent with zero experience. But it’s not good to hire agents with less experience also. What we want here is an agent who has been polished with rough times of handling short sales.

Mistake No. 2 is deeding your home to a buyer. This is not a good option and will never be. The main problem here is that you give up all your rights and lose control over what happens with your loan.

Some buyers will only rent your home out, runaway with the money, and let your home go into foreclosure. Unfortunately, you will still be accountable for your loan and will have to face the court should you want to cancel the loan.

The only way you can avoid this is to deed your home only as a part of a legitimate sale after the short sale has been approved by your lender.

Mistake No. 3 is allowing your buyer to negotiate directly with their lender. When you do this, you are allowing the buyer to have complete control of the negotiation and they may even attempt to negotiate a very low price with your lender. Also, they could provide information to your lender that could complicate any future transactions.

This usually takes time and when the buyer backs out at the last minute, you will not have any other option but to foreclose.

You will have the best chance at a successful Gainesville short sale when you avoid these missteps upfront.

Other Articles to Read:

Bank of Americas Cooperative Short Sale Program

Banks Are Calling Homeowners To Solicit Short Sales

Options To Prevent Gainesville Foreclosure when Unemployed

Do I Have to Pay for the Real Estate Agents Commission?

Call Stephanie Anson today at 352-535-0620 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.

Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents

  

Gainesville Short Sale Cost

Gainesville Short Sale Cost

Gainesville FL- If you think your life would be most livable without worrying for mortgage dues per month, then a short sale might just be the kind of rescue you needed to get rid of a home you can no longer afford.

You might have been considering short sale for a long time but is not sure how to get started– how the process works, the legal requirements needed, and most of all, how much it will cost you to short sell.

The answer is plain and simple– short sale will not cost you anything. If it does, then only to a minimal amount. Nevertheless, there are no costs or fees required for a short sale in majority of cases.

Please be informed however, that short sale does not come without some sort of cash involvement. Most of the money associated with short sale includes the realtors, title costs, transfer taxes, and attorney fees. Your lender should understand one common sense: if you were not able to afford your mortgage, then you will also not be able to pay for all these costs.

As short sale became a more common alternative to foreclosure, lenders today are more willing to pay on your behalf any costs involved in the short sale process. If this phenomenon baffles you, here’s what you need to know.

If financial hardships have hit you, and you have long been delinquent or you can no longer keep up with your mortgage payments, then your lender can now proceed with their legal action­­­—foreclosure.

But, lenders have already learned their lessons. They learned that foreclosure is very expensive along with its legal fees, taxes, insurance payments, and court costs. In addition to that, they will have to maintain a vacant foreclosed home, pay a realtor for resale, and sell it for below market value.

Their judgment points to short sale as a cheaper and better alternative. Thus, they are willing to pay all costs needed to short sale.

Other Articles to Read:

Gainesville Homeowners – Have an FHA Loan – Help on the Way

Gainesville Residents are Not Scared by the Housing Crisis

Gainesville Short Sale Agents Rent To Buy Scheme

When Can you Own a Home Again After Foreclosure?

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.


Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents

  

Fraudulent Short Sales and Passing the Hardship Test


Fraudulent Short Sales and Passing the Hardship Test

Important Tip: Ensure you have not made any misrepresentations on your mortgage application for your original note, home equity line or second notes. If your income is misrepresented in any way, it may be considered a mortgage fraud. If your hardship letter is not legitimate, please seek counsel from an attorney.

Agents should not list fraudulent short sales as it will put them and their seller at risk. Lenders will eventually require homeowners to submit proof of financial insufficiency, tax returns and wage information.

Fraudulent short sales are rare, but should you be involved unknowingly, make sure to execute a hold harmless agreement. Obtain a draft agreement from your attorney and have the homeowner sign.

Passing the hardship test is the very first part of the qualification process. Evaluate the seller over the phone to determine if the short sale will be viable. Should the homeowner fail the hardship test, the homeowner should agree to take a part of the deficiency or sign a promissory note. But this now depends on the lender.

The Gainesville short sale agents has had strategic short sales approved where cash contributions was not required. But you will not know that first hand, so the seller should agree to help right from the beginning. It’s great if they don’t have to contribute, but what happens when you find out at the end that they are not willing to apportion? It will be a great trouble then.

If unfortunately they don’t qualify and have to leave their home, then there will only be three options available to them: a deed in lieu, foreclosure or a bankruptcy. Ascertain that the seller is not in the middle of a loan modification process while filing a short sale this is because most lenders will not allow these two to be processed at the same time. If the seller’s loan modification has been denied, then you can use some of that document to process for the short sale.

Other Articles to Read:

Bank of America’s Cooperative Short Sale Program

Banks Are Calling Homeowners To Solicit Short Sales

Options To Prevent Gainesville Foreclosure when Unemployed

Do I Have to Pay for the Real Estate Agents Commission?

Call Stephanie Anson today at 352-535-0620 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.


Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents

  

Gainesville Homeowners – Have an FHA Loan – Help on the Way

Federal Housing Administration’s (FHA) secretary, Shaun Donovan, announced that the agency will be selling off distressed mortgages in bulk. This move attempts to prevent foreclosure for thousands of homeowners and shed those seriously delinquent home loans.

Every time a new announcement comes from any administration it is usually glossed over with “HELP”, but not sure of the impact. So far programs such as HAMP and HAFA, though great in theory, rarely work out for homeowners.

In line with this, the housing administration aims to sell 5,000 mortgages each quarter beginning in September of 2012.

The housing bubble burdened the agency with over 700,000 seriously delinquent mortgages which mostly originated from the years 2007 through 2009. There are regulations on how deeply these loans can be modified for as long as they are backed by the agency. My question is how many people will this really save? Remains to be seen. I have seen so many people get their hopes up in trying out these programs only to be discouraged because the lenders representatives do not even understand them! There are many Gainesville Short Sales that have come about from these programs not working for the homeowner.

Donovan supported debt reduction for underwater homeowners and helped realize the $25 billion foreclosure-abuse settlement with the nation’s largest banks, which includes the homeowner debt relief. FHA-insured loans are technically eligible for debt reduction, but only few loans are expected to reduce since banks usually prioritize loans not insured by the agency. Doing the math it sounds as if it will help a very small percentage of distressed homeowners going through a Gainesville Short Sale

Donovan, in his statement at the Clinton Global Initiative in Chicago, said that selling these loans could create a backdoor route to debt reduction and those investors who buy them would have greater leeway to reduce the principal loan or offer rent-to-own arrangements and other means of making the mortgage more affordable to homeowners.

Borrowers whose loans are sold will soon receive calls that their loan balance will be dramatically reduced or they will be offered with a set of options that will reduce their monthly mortgage dues. This is probably the best news that homeowners has ever heard of. Well it takes 1 to 3 years to complete a loan modification for most to only to be let down.

This program qualifies loans that are more than 6 months delinquent that went through FHA’s available foreclosure prevention programs; their loan servicers must have started the foreclosure process, and the borrower must not have filed a bankruptcy. Note owners would have to halt foreclosure proceedings for at least 6 months and should agree not to sell half the properties for at least 3 years.

To mobilize the program, FHA will have to sell the loans at deep discounts. At present, the agency receives only 36 cents on the dollar for a foreclosed home. So the agency may be able to come up with a price offer that is attractive enough for investors without losing money. The pilot version of the program sold more than 2,000 distressed loans. But there has been no confirmation on how much the sales had yielded.

Carrington Mortgage Holdings’ executive VP, Rick Sharga, disclosed that investors would typically pay 40 to 60 cents on the dollar for seriously delinquent loans, but this depends on the local market and whether it is a judicial foreclosure.

FHA emphasized its potential to help homeowners who are behind their payments and those whose property values are threatened by neighborhood foreclosures.

The agency extends its efforts in refinancing loans with lower interest rates to borrowers who are current on their mortgage payments. Effective June 11, 2012, according to FHA, homeowners with FHA backed loans will save an average of $1,000 a year when they refinance.

Other Articles to Read:

Gainesville Florida Renter Rights During Foreclosure

Short Selling and Renting from the New Owner – Gainesville Short Sales

Where will the mortgage settlement fund go?

Do I Have to Pay for the Real Estate Agents Commission?

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.


Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents

  

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Gainesville Short Sales Agents Refinancing Bankruptcy Trick

Gainesville Short Sales Agents Refinancing Bankruptcy Trick
The scammer assures you that they can negotiate with your lender to help you refinance your home. The scammer then asks for an upfront fee and disappears with the your money and files a bankruptcy in your behalf without your knowledge.

Yes, filing bankruptcy will temporarily stop the foreclosure, but this is just the beginning of a nightmare. Since you are not aware of it, you are also not aware of ongoing court hearings, and your absence on these hearings will compel the judge to start the foreclosure proceedings. This scenario further creates many other unfavorable circumstances.

Scam Alert: Do not entertain companies or individuals who:

1. Guarantee to save your home from foreclosure even under any circumstance. There is no such powerful company/ individual that can make such wonders.

2. Makes you pay your mortgage dues directly to them and not on your lender. This is ridiculous, you must be able to detect it’s a scam at the moment this is brought up.

3. Shows intent to buy your home for a fixed price that is not in accordance with the present housing market. These kinds of negotiations always have a malicious plan behind. To think, who would buy a property that cost more than the present market value? And are you willing to sell your house for less than its worth?

4. Makes you urgently sign documents that you do not understand. This is one of their tactics so you wouldn’t have to review the pages. Under no circumstance should you affix your signature on any document that you have not examined. And much more if you have to sign via coercion.

5. Advises you to stop contacting your short sale lender and short sale attorney.
At some point during the deal, you may be misled by this proposition. If the settlement offered is legal, then there is no reason you should stop communicating with your lender and attorney. And remember, there is no such means of saving your home through illegal means or under the table agreements.

6. Collects an upfront fee (except attorneys). Charging upfront fees is against the state law of Florida. All fees must only be paid and accepted upon work completion. Common sense will tell you that you have no assurance the work would be done when you pay upfront fees.

7. Requires you to transfer your title to them. Please refer to the Rent to Buy Scheme.

8. Proposes to rent your home from them and then buy it back later. Discussed in Rent to Buy Scheme.

9. Accepts only cash or cashier’s checks for payments. Scammers designed it this way since it is difficult to track down transactions made through cash or cashier’s check since there are no appropriate money transmittal records.

There are strict guidelines regulating the purchase of scammed houses during the short sale process. A penalty of $15,000 is imposed to every infarction. This law refers to the foreclosure fraud CS/HB 643.

Please refer to your state’s law on this issue as laws vary from state to state.

Gainesville Real Estate Agents need to be very careful before they do business with any short sale mitigation company. It would be safe to verify their background and references and check their closing ratios. There are actually no licensing requirements for a short sale negotiator in most states. It would serve you best if you transact with a Gainesville short sale specialist who have assistants that help you do the paperwork and allows you to step into the negotiation process so that everything is transparent.

Other Articles to Read:

Banks Are Calling Homeowners To Solicit Short Sales

Options To Prevent Gainesville Foreclosure when Unemployed

Do I Have to Pay for the Real Estate Agents Commission?

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.

Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents

  

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Will the Mortgage Debt Relief Act Get Extended – Gainesville

Will the Mortgage Debt Relief Act Get Extended – Gainesville Florida – The mortgage debt relief act is due to expire at the end of 2012. With it will go the relief distressed homeowners currently receive when they short sale their Gainesville home.

Under the The Mortgage Debt Relief Act a Gainesville homeowner has the ability to exclude income from the discharge of debt on their principal residence. This would be the difference of the amount owed on their mortgage to what the home sold for. For example, if the mortgage was $200,000 and the sale price was $150,000 the homeowner would receive a 1099 for $50,000 difference in the sale price to the amount owed.

This 1099 would be considered as income on the Gainesville homeowners’ taxes. If Congress does not pass this bill extension then this debt will be taxed as regular income.

As homeowners struggle to make ends meet, this could prove as continued relief while the housing crisis continues to struggle to correct itself. If the Mortgage Debt Relief Act does not get extended it will have a profound financial affect on owners who are already currently struggling to stay above water.

Write and encourage your congressman to pass this bill. Florida homeowners are not out of the water yet.

Other Articles to Read:

Fast Gainesville Short Sale Approvals on Fannie Mae Loans

Gainesville – Distressed Sales Still Depress Home Prices

Short Selling and Renting from the New Owner – Gainesville Short Sales

Do I Have to Pay for the Real Estate Agents Commission?

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.


Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents

  

Gainesville Short Sales – Top 10 Questions

Gainesville Short Sales – Top 10 Questions

Click Each Question to find out the answers.

1. What is a Gainesville Short Sale?

2. Gainesville Short Sales – How do I Qualify for a Gainesville Florida Short Sale?

3. Gainesville Short Sales – What is the Gainesville Short Sale Process, What Should I Expect?

4. Gainesville Short Sales – How do I Prepare My Gainseville Short Sale Hardship Letter?

5. Gainesville Short Sales – Do I Have to Pay for the Short Sale Agents Real Estate Commission?

6. Gainesville Short Sales – Why Don’t I Just Foreclose?

7. Gainesville Short Sales – What Happens in a Short Sale if I have More than 1 Mortgage?

8. Gainesville Short Sales – Should I Stop Paying My HOA?

9. How Long Does a Gainesville Short Sale Take?

10. Gainesville Short Sales – What Can a Gainesville Short Sale Agent do for Me?

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.

  

Gainesville Short Sales – Should I Stop Paying My HOA?

Gainesville Short Sale – Should I Stop Paying My HOA? If you are a Gainesville homeowner considering a Gainesville Short Sale or already in a Gainesville short sale you will want to ensure you continue to pay your HOA dues. For reference in this blog post we will refer to HOA neighborhood or condo association fees as HOA Fees. Based on our experience and based on all the sellers that we have worked with living in HOA communities, failure to pay your HOA fees may result in a foreclosure and/or lien placed on your Gainesville home.

Even if the short sale bank told you to stop making your mortgage payments,you have stopped out of necessity or it is a strategic decision you; still need to continue to make those HOA payments. Failure of payment can cause the Gainesville short sale to fall apart.

This past year the State of Florida legislature passed very strict HOA rules to benefit the HOA’s. Your HOA payments typically go to taking care of common grounds, amenities, entrance signs, insurance for the roof or building if applicable, lawn care, etc. When these payments are not made it causes the HOAs to have financial distress and they will have to assess the rest of the paying community in order to maintain and keep up with the expenses.

The remaining Gainesville homeowners have been very displeased with having to carry others expenses. They are going to these board meetings and are demanding the HOA board to stop making deals on behalf of those Gainesville homeowners facing foreclosure. They have to pay the full amount plus take care of others and they are screaming it is not fair.

So in the past year it has become extremely hard to negotiate with the HOA Board of Directors or Property Management Companies for this reason alone. Once you become delinquent they the Gainesville HOA will hire an attorney and now the attorney’s fees are tacked on to your back owed dues and they can sue for FORECOSURE.

Now your bank does have first position for your Gainesville foreclosure, however it does not stop the HOA from foreclosing and they do it as “subject to the first”. The first still retains their right to foreclosure, but the HOA does it under the new law and can seek a judgment. Through the judgment your wages may be garnishedand if they recover the unpaid assessments they do not have to waive any claim of the lien against your Gainesville home. They can cut off your access to amenities; they can evict you, rent out your unit if it is vacant or confiscate the rent directly from your tenant and even charge you rent. The money will go to taking care of arrears, attorney’s fees, etc.

This makes selling your Gainesville short sale difficult or impossible and the bank has placed limitations on how much they will pay towards the back owed HOA fees and sometimes will not contribute at all. Sometimes if you have a cash buyer they may be willing to cover those fees. For additional information review >Florida Statutes Chapter 720 Part 1 General Provisions ss 720.3085

Other Articles to Read:

What is a Short Sale?

Short Sale Process – What to Expect

Short Sale Top 10 Questions

Do I Have to Pay for the Real Estate Agents Commission?

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.

Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.