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| There are 3 basic types of sales that can occur when a homeowner has fallen behind in payments or no longer has the ability to repay his mortgage. These reasons can vary from loss of income, increase in property taxes and homeowners insurance to refinancing beyond the homeowner ability to repay and even divorce. These are just a few of the reasons not all and anyone of them can cause allot of distress for the homeowner. Loosing a home is not something I would wish on anyone. If you know that this is something that is going to happen and you cannot avoid you still have some control on the out come and how it will affect your credit. The best thing to do is to have a Short Sale. With that said let me explain the 3 basic types of foreclosures. We will start with the least painful for a homeowner. 1: The Short Sale. The Short Sale is named such because the home is being sold for less than what is owned the Bank or Banks (there can be and often is more than one mortgage). A short sale can be a long slow process, as it has to follow a process. First the homeowner must agree to sell the home for less than what is owed and next the bank must agree to accept less than what is owed. Even if the homeowner lists the home and a contract is accepted it is still contingent upon the bank being willing to accept the short payment. If the homeowner is successful with a short sale his credit is usually hit with 100-point loss. This is bad but nowhere near as bad as if the home was fully foreclosed. If done correctly the loan will show satisfied and if the homeowner is cautious with his credit afterward they can usually recover and rise there credit score back up again and one day may have the ability to purchase another home. If this is a situation you are in you should contact a qualified Realtor and ask them if they are familiar with a Short sale and can help you sell. If you are in the Hillsborough or Pasco county area I would be glad to assist you and my services to you will be at no additional charge as the bank will pay my commission which will be negotiated between myself and the bank. This process should begin quickly, do not wait until your home is scheduled to be foreclosed and you are evicted. 2: A Foreclosure: This will occur when the home owner is behind in payments and is not willing to or can not catch up on payments and just lets the bank proceed with the foreclosure. A notice is sent stating that the owner is behind in payments, then another notice stating that unless they catch up on payments or make other arrangement a "Les Pendence" will be fillied ( the Official notice that the bank is going to foreclosure) then another notice of a court hearing then if found in default the home will be foreclosed and the home owner evicted. This will hit the homeowner credit with a loss of aprox. 250 point (devastating) also it will show the home was foreclosed and the debt not paid. (This is why a short sale is more beneficial) An average foreclosure can cost a bank $20,000, $30,000 and even $40,000. This is another reason a bank is willing to accept a Short Sale, as there loss will not be as great. 3: R.E.O. This is short for Real Estate Owned: This is real estate that has been foreclosed and the bank now owns. No matter what you have been told a bank does not like to own real estate through foreclosure. They now have a bad loan on the books and have bared the expense of all the legal fees and the time and cost to foreclose on the home. |
 Foreclosure...This 2bed/1bath home sits on a nice, fenced lot and needs just a little tlc. Huge enclosed garage is perfect family room(and means extra square footage). Near I-275. Sold as-is, but you can't beat this price! Since this is corporate-owned, please call Realtor for information on submitting offers. $49,900 |
 Bids starting at $69,150.00. This is NOT a short sale, "repo", foreclosure, or bank owned property etc. This home will be sold to the highest & best bidder (acceptable by seller) on 1/20/08. This house has been updated and is in move in ready condition. This listing will expire January 20, 2008. $69,150 |
 Bank owned property obtained through foreclosure. Home is in generally fair condition with signs of remodeling in the near past. The home needs some TLC. Exterior AC unit is missing. Washer and dryer left for buyer's convenience. Nice fenced yard. Nice terrazo floors throughout the home. Two bathrooms that have been recently updated. Indoor laundry room. Nice block home. Call today for further information. $69,900 |
 Pre Foreclosure. Beautiful condo on corner; unit next to clubhouse and pool. Maintenance fee incls. water and sewer plus the clubhouse is equipped with internet access, gym, pool table, and big screen TV. Seller is very very motivated so bring all offers. All appliances upgraded! $110,000 |
 *** FORECLOSURE *** MAKE OFFER *** GREAT 1st FLOOR STARTER CONDO IN THE STUNNING GATED / GOLF COURSE COMMUNITY OF HUNTER'S GREEN * VERY OPEN & BRIGHT FLOOR PLAN WITH NEUTRAL COLORS THROUGHOUT * VERY GOOD CONDITION * YOU'LL LOVE THIS COMMUNITY!!! $119,000 |
 PRE FORECLOSURE SALE, PRICE IS SUBJECT TO BANK APPROVAL FOR A SHORT SALE. NO GUARANTEE IF REDUCED LISTING PRICE WILL BE ACCEPTABLE WITH BANK. NO EQUITY TO SELLER, BROKER WILL PRESENT ALL OFFERS, $125,000TIME ALLOWANCE NEEDED TO NEGOTIATE WITH BANK FOR SHORT SALE. $125,000 |
 BANK-OWNED FORECLOSURE/REO PRICED BELOW MARKET. Enjoy this beautiful home on a quiet street in a great South Tampa neighborhood. Come see this beautiful 3-Bedroom home. Just minutes away from Bayshore Blvd., downtown Tampa and St. Petersburg. $125,000 |
 BANK FORECLOSURE! PRICED TO SELL! Well Maintained! Large living and dining area. Large Master Bed With Fulll Bath & Walk In Closet. Large Kitchen, Plenty of Cabinets. Large Fenced Yard, Large Indoor Laundry With Plenty Storage! Offers need approval ltr/proof of funds, $134,900 |
 Over 1,700 sq ft on a nice level one half acre on a Cul de Sac with all newer homes. Easy access to Tampa, Brandon via US 41, SR60 and the expressway. Formal living room and family room. Just reduced another $20,000. Pre Foreclosure. $149,900 |
 Pre-foreclosure all offers are contingent upon banks approval! located in golf course community, close to schools and shopping $155,000 |
 MAKE AN OFFER *** FORECLOSURE *** MAKE AN OFFER * THIS IS A TERRIFIC HOME IN A GOLF COURSE COMM * VERY OPEN & BRIGHT FLOOR PLAN * NEUTRAL COLORS THROUGHOUT * CONSERVATION LOT * THIS IS THE BEST PRICED HOME IN ALL OF NEW TAMPA * A MUST SEE!!! $169,900 |
 SHORT SALE - Preforeclosure. This house is a STEAL. Needs a little TLC, mostly just new carpet, paint, and a good cleaning. Where else can you get a 3/2/2 with a pook and hot tub overlooking a pond?!?!?! Bank must approve all offers. Sold As Is. $175,000 |
 Recent remodel included kitchen with new wood cabinets and granite counter tops.. new windows.. lighting and plumbing fixture upgrades...private fenced rear yard..This is a pre-foreclosure with all offers subject to lender approval! THIS IS A GREAT PRI CE! $199,900 |
 Home is in FORECLOSURE and the bank will entertain a Short Sale of $200,000, this home is in excellent condition inside and out. One one acre with workshop and detached two car oversize garage. A must see, bring your horse HOME IS IN FORECLOSURES, POSSIBLE SHORT SALE, BRING OFFERS This upgraded home is on over one acre zoned ASC-1 bring your horses. You may also park your semi truck or RV on this property. Two separate workshops and an oversize two car garage makes this ideal country living $200,000 |
 BEST VALUE IN HUNTERS GREEN!!! This home is in pre-foreclosure and MUST SELL!!! Offers are subject to lender approval. This is a rare opportunity to get a home in the popular Hunters Green subdivision at a GREAT PRICE! This is a gated golf community with a wonderful community park just two blocks from the house $209,000 |
 SHORT SALE - PREFORECLOSURE! This is an amazing Victorian Home with gorgeous gingerbread trim and a large wrap around porch perfect to relax on after a long days work. This home is in perfect condition and is currently being used as a model home for a builder. The owners paid over $660k for this home in 2005! This is a Model Home and there are UPGRADES GALORE: $499,900 |
 Bank owned Tampa Palms Pool home, 5 bedrooms, 4 full baths, 3.5 car garage with pool. All formal areas, needs kitchen cabinets and some other work! No disclosures, as owner has obtained this property thru foreclosure and never lived at residence! Being Sold As-Is. See this home today! Tomorrow is too late!!! Over 3600 sq.ft. $499,900 |
 PRE FORECLOSURE ALL OFFERS SUBJECT TO BANK APPROVAL, BEAUTIFUL HOME ON THE BEST LOT IN HERRITAGE ISLES. GOLF COURSE WOODS POND END OF CULTISAC ENOMAS VAULTED CIELINGS INGROUND HEATED POOL WITH WOUNDRFUL SPA AND TALL SCREEN ENCLOSURE. PERFECT FOR ALL FAMIL ARGUABLY THE BEST LOCATION IN HERITAGE ISLES $499,000 |
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This is just a small small of the 100's of homes available for short sale, preforeclosure, foreclosured and bank owned. If you interested in a foreclosure or have to sell your home. Please call or email me thanks Ron |
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Ron Zemetres Realtor ® G.R.I. Direct Line 813-843-3474 Visit our main site http://www.zemetres.com |
