A Short Sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed to the bank or mortgage lender. The bank or mortgage lender typically agrees to discount a loan balance because of an economic or financial hardship on the part of the property owner/debtor. When the property owner/debtor sells the mortgaged property as a Short Sale, the entire proceeds of the sale are turned over to the lender, sometimes (but not always) in full satisfaction of the debt. Lenders will allow a Short Sale if they believe that it will result in a smaller financial loss than foreclosing as there are carrying costs, legal fees and other costs and expenses that are associated with a foreclosure. A Short Sale is typically faster and less expensive to you than a foreclosure.

• Loan Modification: This option allows a borrower to refinance and/or extend the term of the mortgage loan and thus reduce the monthly payments. If you know that you can pay out your mortgage if the interest rate is reduced, and you want to stay in your home, then pursuing a loan modification is your best option. Beware, however, that if you modify your loan to a monthly amount which you cannot afford to pay, your property will eventually be foreclosed.
• Deed-In-Lieu: To avoid foreclosure ("in lieu" of foreclosure), a deed is given to the lender to fulfill the obligation to repay the debt. This process doesn't allow the borrower to remain in the house but helps avoid the costs, time, and effort associated with foreclosure
• Foreclosure: This is the legal process in which your bank seizes your real estate property if you fail to keep up your payments. In  Florida, foreclosure involves a court proceeding (Judicial Foreclosure).

According to www.makinghomeaffordable.gov, a website operated in partnership with the U.S. Department of Housing and Urban Development, in order to qualify for a Loan Modification, you must meet ALL of the following criteria:

• The property must be your primary residence.
• The amount you owe on your first mortgage must be equal to or less than $729,750.
• You must be experiencing trouble paying your mortgage. For example, have experienced a significant increase in your mortgage payment OR reduction in your income since you got your current loan OR have suffered a hardship that has increased your expenses (like medical bills.)
• Your mortgage must have originated before January 1, 2009.
• Your payment on the first mortgage (including principal, interest, taxes, insurance and homeowner's association fees) must be more than 31% of your current gross income.

No. Banks will not entertain both negotiations at the same time as it adds to their already heavy workload.

We facilitate Short Sale negotiations for properties where:

• The total debt is over $175,000.
• There are no more than 2 mortgages on the property.
• The Foreclosure Final Summary Judgment Hearing date is more than 45 days away from the time you sign-up with London Realty Corp..