Short sales in Saint Petersburg. I have 2 mortgages on my home, can I do a short sale?

Pin It

Short sales in Saint Petersburg. I have 2 mortgages on my home, can I do a short sale? Sorry, there is no yes or no answer to this short sale question. If you have more than one mortgage on your house or condo or a mortgage and an equity line it will get a little more time consuming and complicated. If both mortgages are with the same lender, you chances are better and the process is faster. In general (keep in mind, every short sale situation is different) if there is no money left from the sales proceeds to give to the lender that is in second place, the first lender has to make a deal with the second lender and this can go on for a while. If the first lender (they usually pay a few thousand) is not willing to pay some money to the second lender, the chances for a short sale just got less and less. Anyway, do not be discouraged, talk to your realtor and see what he or she has to say. Here in Saint Petersburg like everywhere else you can find Realtors that are trained in short sales and have designation like mine “Certified Short Sale Professional”  These professionals will be able to give you a fair and evaluation of your short sale property before you have to make a decision.

If you think about buying or selling a house or condo in the Saint Petersburg Florida area, please give me a call. Ask me about waterfront homes or condos in St. Pete beach, Treasure Island, Madeira beach, Seminole and other Clearwater Tampabay neighborhoods. Find out what we can do to sell your home or condo and what the value of your property is. Check out great real estate deals or visit condo associations like Seminole Isle.

We also work with short sale bank owned and foreclosures. Find a property or go to my website for more real estate information or simply contact us.   727 409 8706

Leave a reply