What Are My Royal Palm Beach

Foreclosure Options?

Nestor Gasset and Katerina GassetInternational Properties and Investments LLC

What are my Royal Palm Beachforeclosure options?

If there’s a will, there’s a way, and it’s important to remember that when you are facing the possibility of foreclosure for your home in Royal Palm Beach.

Aside from the options you are already aware of having, you should also take the time to do some research as there are other options you may have been unaware of and could

present a better solution to your problem.

Option #1:Allow your home in Royal Palm Beach

to be foreclosed.

When confronting a problem, it’s always a good thing to have all the facts in the open.

It also means acknowledging the worst possible scenario and the consequences that come with it.

If you are facing possible foreclosure for your home in Royal Palm Beach, it would mean having your credit score adversely affected – and that kind of record usually takes a

number of years to repair.

On the upside, you won’t really need to spend a dime on foreclosure proceedings. You may also be able to enjoy living “rent-free” in your home for months or even a year until the court formally grants your creditor the right to

foreclose upon your property.

Option #2:Get a new loan to pay for your mortgage.

This is the best solution for various reasons.

Firstly, you get to keep foreclosure agents off your property by paying your mortgage off.

Secondly, you get to keep a roof over your head.

Unfortunately, it’s an option that’s easier said than done. Considering the fact that you’re behind your payments, you

will find few creditors willing to extend you a new loan.

The only time they’d probably be willing to consider doing so is if you have another – unencumbered – asset to put up

as collateral.

Option #3:Apply for a Royal Palm Beach short sale.

Ultimately, this may prove to be the best solution all around.

A short sale takes place when your home is sold at a price that is lower than the amount of money you

have borrowed when mortgaging your home.

To illustrate, let’s say that your home can be sold today at $500,000.

Unfortunately, your home is mortgaged at $700,000. This, by the way, is made possible by the fact that your home

had an inflated value during the time of purchase.

You cannot insist on selling your home for $700,000 because no homeowner in his right mind would pay that price when he can get a similar property for much less.

If you sell your home for $500,000, that would still leave you with a $200,000 debt.

With a Royal Palm Beach short sale, however, a creditor may be inclined to accept $500,000 as full payment for your

mortgage.

The remaining balance will be either waived or you may be given a chance to settle it at a future or indefinite date.

Contact Royal Palm Beach short sale agents- Nestor Gasset and Katerina Gasset at 561-753-

0135 today for your Short Sale help!

Nestor Gasset & Katerina GassetRealtors®, REOS, CIPS, SFR, GRI, ABR

1021 Cherry Lane,Wellington, Fl, 33414

561-753-0135brokernestorg@gmail.com

www.floridaipi.com