Does Job Relocation Qualify For A Lakeland FL Short Sale?
With the current high unemployment rate in Polk County at 12% as of September 2011, I totally understand why workers worry about their job security and choose to relocate in other states. My husband was recently laid off after 16 years on the job, although he found a job again, it brought fear to our household, nonetheless. I had recently received two inquiries about relocation. They particularly asked if job relocation would qualify for a Lakeland FL Short Sale.
Job relocation may qualify you for a short sale because home values have considerably declined. Lakeland homeowners who relocate will be left with no other choice but to place their homes on the market as a short sale. The would-be hardship is that homeowners will be compelled to sell their homes. They will have a hard time keeping up with their mortgage payments and other living expenses for the new place where they will transfer such as rent payment.
How your situation will play out with your lender is hard to determine. The outcome is dependent on your financial status, your hardship letter, and lastly, availability of savings to pay all or some of your shortfall. For example, if you choose to relocate for a substantial salary increase, the lender may approve the short sale with a given contribution and/or a promissory note. Your credit score may not be affected unfavorably and you may be able to purchase another home rather earlier than expected; If you are capable of making payments at the same time that you’re selling your Lakeland home as a short sale. Seeking the help of a competent legal and tax advisor is vital.
Another real estate agent had informed me that when one of their clients had relocated because of the danger of losing his job, his lender approved the short sale and waived the remaining deficiency. Moving forward with a Lakeland FL Short Sale may have negative implications.
You should ask yourself and your spouse whether the short term implications are worth the long term benefits?
If you are relocating and would like to get a confidential consultation about short sales in Lakeland Florida or in nearby cities, you are welcome to contact me at 863) 619-6918.
IMPORTANT NOTICE: CDV Transatlantic,Inc. is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.
Copyright © 2011 By Petra Norris *Does Job Relocation Qualify For A Lakeland FL Short Sale?*
Managing Broker - CDV TransAtlantic, Inc.
(863) 619-6918
