| Avoid Foreclosure |
| Short Sale |
| Deed-In-Lieu |
| Forbearance |
| Mortgage Modification |
| Renting the Property |
| Bankruptcy |
| Mortgage Refinance |
| Short Refinance |
| Deed For Lease |
| Service Members Relief |
| Sale of Property |
Many Tampa Bay homeowners caught in the market downturn continue pay their mortgages on time but would like to take advantage of low interest rates and reduce their principle balance to reflect current market values.
New government programs, such as the “short refinance” program, aim to help underwater homeowners refinance primary and second mortgages. The Short-Refi program provides incentives for lenders to reduce mortgage balances and refinance borrowers into loans backed by the Federal Housing Administration. For more information, see: Will Fannie, Freddie Participate in ‘Short Refinance’ Program, FHA Rallies Lenders to Cut Principal, or Fannie, Freddie on Loan Write-Downs.
Government programs and borrower options are constantly in flux. As Certified Distressed Property Experts (CDPEs), Annette, Doug and Dale Bohannon have been trained to help you consider all the options. Contact the Bohannons at Coldwell Banker Residential Real Estate in Tampa, Florida for a confidential consultation.
