Jacksonville-Beach Homes

Mike S asked:


I live in SW Florida where the real estate market has fallen nearly 40% in some areas. I bought a home in 2005 for 250k (30yr interest only ,7yr arm)and my home is now worth maybe 200k. I am not particularly happy with what my neighborhood has become,aboanded homes, renters , loud parties etc. It will be years before my home gets up to a value for me to be able to sell. My credit is great and i have never had a belimish on my credit report. I also work in construction so who knows what tomorrow brings. So that’s my delimia ,do I ride it out and hope for the best, do I try to short sale and if short sale doesn’t happen eventually foreclose. My family is more important to me than my credit rating . If I bale now I could save the my mortage payment money until I’m kicked out then find a place to rent for 1/2 of what I’m paying now($1800 vs ($900 per month). If I stay and I loose my job or get transfered I’m going to be in same boat anyway. 5-7 yrs maybe, before property values returns.

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josh n asked:


I have one of those “crazy mortgages” that everyone talks about and our payment is now 4100.00 a month. My credit is good and my income is good. I have a wife and 4 kids. We can no longer afford our mortgage and I have been actively trying to fix my situation. I have called the bank for a lower rate. They won’t deal with me. So, being in the auto industry,I have secured a good job in Florida and I am closing on a different house in Florida in 2 weeks. I have my house for sale in nj but cant afford both payments. I am working with a realtor that will assist me with a short sale. My house is worth around 485000.
I owe 412000 on the first and 74000 on the second. different banks.I know this will adversely affect my credit if the house does not sell. Scenario A is I lose my house if my house does not sell and my credit is ruined. Scenario B is I buy the house in florida and possibly lose my house in nj but i will still be a howeowner living in florida.

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weaverdreams asked:


This is a CONDO CONVERSION in Central Florida. I’ve paid over $40K on the property over the last 2.5 yrs. Loan is going to “reset” soon at a much higher int. rate. Also, the condo mgmt co embezzled from us & the area has become crime-ridden.

Can no longer make the payments, as now my business has failed. THESE ARE THE ISSUES THAT HAVE LED ME TO THIS POINT.

Any opinions on whether or not the short sale will go thru?

(Yes I discussed & got prequalified to do a shortsale before I started this process, but the salesprice was never discussed. It was submitted in early June, & we’ve heard NOTHING……)

Also, I’m wondering if I would be better off just letting it go into foreclosure, from a “credit” standpoint? (Won’t BOTH look equally as bad on the credit report?)

I want to put this behind me & build a new life………

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Dr. E asked:


As many others we bought a house 3 years ago in Florida and now we owe the bank $420.000 for a house that is just $350.000 today.
We are foreign nationals and we have been relocated overseas so we have to leave and possibly never come back to the US. If we rent it we still cannot cover the mortgage.
Is it common that the bank denies short sales if you do not live in your house? I don’t really care about credit history because we wont be living here anyway, what happens if we just stop paying and go to foreclosure, can the bank come after our savings ?
PA: the credit history will not be affected overseas (Asia), and there’s no need for calling names. Thanks for your answer.
VB: Do you think they will accept a short sale?

Caron asked:


A friend and her ex-husband are on a mortgage together for home that that the husband is trying to do a short sale on to prevent foreclosure. My friend, the wife, was told that she had to go to a Realtor’s office and sign some papers so a short sale package could be prepared (on a Saturday).

At the Realtor’s office she was told to sign a Florida Land Trust and a Limited Power of Attorney so the Realtor or whoever could have control of the property and wouldn’t need to bother and call her and also called them Internal Documents and CYA. The office has a sign out front saying “Stop Foreclosure Now”.

I am concerned that this may be a foreclosure rescue scam. I told her to talk to an attorney before signing any documents, especially the Land Trust. I am afraid she will sign away the house and then still be held responsible for the mortgage. Ex-husband already signed the documents.

Is the Land Trust and Limited Power of Attorney routine documents needed for a short sale package to be sent to the lender and/or routine “internal documents” to CYA the Realtor or whoever is really doing this deal?

Why the “Limited Power of Attorney” when my friend and the ex-husband still lives in the same city where the house is located?

Thank you for all your help!!!

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Mel asked:


We are very interested in a townhome property in Florida, NY which is listed at 234,000$ for a two bedroom. We just gave an offer of $200,000 and it’s not a short sale or/foreclosure. Is it about right with what we offered being of its size and also being that it’s a townhome? I’d like to hear an agent’s point of view, preferrably, or experienced home buyer being that I’m a first time home buyer! Thanks

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arisuthepink asked:


I’m in the process of purchasing a short sale property in Florida. The house number on the MLS listing and on the house itself is 511 NW … ST. However, when I went to look up the house on the county property appraiser’s website, that home did not exist. The number according to the appraiser and other legal records is 507 NW … ST.
Why might this be the case?
1. The MLS address is not a typo: that is the number ON the house that I walked through with my agent.
2. Yes, I’ve been inside the house.
3. The bank already approved the sale, and the contract is written with the same number that is on all the legal documentation (deeds, appraisals, etc.).
4. There is no house numbered 507 on the street.

LinkTheWorld asked:


Here in Tampa, Florida, a lot of houses are sitting on the market for awhile and 90% of houses for sale are short sales or bank owned properties.

There is a townhouse that I really want that is banked owned listed for 89,900. It JUST came on the market on Friday, so 2 days ago.

The EXACT same model townhouse with the same features and everything just sold for $105,000.

We went today to look at the townhouse and it was move in ready, didnt need any work except 2 of the rooms needed to be painted another color because they were aweful colors.

Anyway, I called the listing agent today and they said there were already 2 offers in on the property and that on Tuesday he would be sumitting all the offers he gets up until Tuesday morning.

My question is…What should I offer?

Now days a lot of people think they can low ball bank owned properties, but this one is priced really good.

Any tips on how I can make sure they pick my offer?
Yes I am already pre-approved for $105,000 and have a letter from Century 21 mortgage.
I asked what should I do?

and I dont have 95K cash, I said I was approved for $105,000, so saying you would offer 95K cash doesnt help me.

Even If Your Spouse or Lover Has Been Having an Affair..You’ll Bring Them Back

Sherri asked:


I have been trying to move to Florida for at least 15 years. I finally got my chance. My fiance was transferred to Florida in 2006. I stayed behind for 6 months to get our affairs in order. I listed the house with a realtor and moved to sunny Florida. I’ve always made an above average living until now but I can’t find a stable job here. I dumped all my money into the home in MI and now nobody is interested in the house. I am absolutely heart broken. I am looking for someone to buy in a short sale, I enlisted the assistance of an attorney, I talk to the bank…I can’t seem to find a way out of this. Now it’s in foreclosure. I don’t know what to do! Any advice would be greatly appreciated.

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BABYBUG asked:


I am in the Coast Guard and I live in Florida and I am getting transfered to RI. I bought a home in 2005 for 165k and now it is only worth around 130k. I was told by a realtor that I could get around 800$ for rent but my mortage is 1900$ and I am unable to cover that 1100$ when I transfer. I have called and wrote numerous hardship letters to my bank and they want nothing to do with me. It seems the only way the bank will help you is if you are late on payments or just dont make them at all. I guess my question is what are my options?