Windermere Florida Short Sales| Short Sale Homes For Sale Windermere 34786|Foreclosures Windermere

The reputation of Windermere as one of the most upscale communities in Florida has not made it immune from the economic downturn. Like most markets, Windermere Florida real estate has seen its fair share of foreclosures and prospective buyers are paying attention to foreclosure auctions as well as Windermere Florida short sale properties that are steadily emerging today.

A short sale occurs when a homeowner is unable to keep up with mortgage payments and is in danger of foreclosure. In order to avoid defaulting on the loan and having their home repossessed, owners have the option of asking their lender to consider a short sale – essentially selling the property for less than the outstanding amount on the loan. Lenders will only consider this because the initial loss they will incur may be more favorable than the ongoing costs associated with having to own and manage the property.

The advantage of a Windermere Florida short sale for the homeowner is being able to avoid a foreclosure  that will be detrimental to their credit rating. Prospective buyers have a chance to purchase a Windermere Florida foreclosure property at a heavily discounted price. As with foreclosure homes, the process of a short sale can be incredibly complicated, so working with a Windermere Florida Realtor® is highly recommended.

To learn more about Windermere Florida short sale properties, consult a seasoned professional with experience in the foreclosure and short sale markets. Contact Morris & Co.