Southwest Florida Title Insurance & Real Estate Blog -

Florida Short Sales – What You Need To Know

Posted by Chris On December 20

Florida Short Sales - Question Time

If you are reading this you are likely considering or have considered a short sale of real property in Florida. Over the last few years, our title company has orchestrated the closing of over 650 short sales. In the course of our work with sellers, realtors and lenders, we have heard many questions related to Florida short sales. In order to help you prepare for your short sale, I have memorialized the most frequently asked and pressing questions we have received from people just like you who must sell their property but who owe much more than the property is worth.

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Looking for reasons to go to the Florida REALTOR® Convention and “We’ll Make You A Star” Tradeshow on August 25th-26th?

Here are a few noteworthy reasons that will get you motivated to come to Orlando for the Convention:

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If you are a buyer’s agent and you’re searching for a Short Sale Specialist in Fort Myers and the outlying areas of Southwest Florida, we invite you to view the video above which explains our operation.

Winged Foot Title is comprised of 3 full time employees who are dedicated to the orchestration and the timely closing of your short sale. We do not get paid unless the transaction closes so we obviously have a vested interest in the completion of the short sale.

Here are a few additional talking points that I cover in the video:

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Winged Foot Title Travels to Great Lengths to close Short Sales (photo courtesy of Carl Wycoff)

What lengths would you go to in order to save your bank mortgage short sale from foreclosure?

Our team at Winged Foot Title refuses to take “NO” for an answer!

After being told that a Saxon Mortgage short sale was a lost cause, Winged Foot Title persevered and got Freddie Mac to approve the short sale and save it from the brink of foreclosure.

This is just one of the examples of the lengths to which our team will go to get the job done.

How many times have you heard of a bank mortgage short sale story like this?

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GMAC Mortgage uses Equator System to close Cape Coral Short Sale (photo courtesy of cliff1066)

The battle is won!

Victory with the Equator System Strategy!

GMAC is doing an awesome job implementing the Equator System into their process. This is helping us at Winged Foot Title achieve speedy approvals.

Check this out:

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MarsThere has been a substantial amount of buzz in the real estate industry lately about MARS.  No, not the red planet; although the market has been rather other worldly.  MARS is the acronym for “Mortgage Assistance Relief Services”, a set of real estate-related services now defined and regulated by the Federal Trade Commission.  The Final Rule, which became effective on December 29, 2010 was published in the Federal Register on December 1, 2010 at Vol. 75, No. 230, pages 75092 to 75144.  It has REALTOR® associations scrambling to ensure that their members are compliant (see, e.g., the Florida Assn. of Realtors Legal Center Hot Topics page), lest they run afoul of the rule in their short sale negotiations and subject themselves to scrutiny and civil penalty.

All of this buzz convinced me to take a closer look at the rule as it relates to our title insurance-related short sale services.  As far as I know, neither our national nor state (FL) title industry associations have issued any advisory opinions on the new rule regarding mortgage relief.  This is understandable.  The rule is pretty complicated; and either an over- or an under-reaction by the associations could cause issues for their members.  But since Winged Foot Title provides short sale title solutions, I thought it worth our while to look at the rule more closely.  So without going into too much annoyingly detailed analysis, I would like to explore the rule a bit and explain what Winged Foot Title is doing to prepare and to react.

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DreamHome (photo courtesy of futureatlas.com)

When dreams become reality!

In less than one month, Winged Foot Title has done it again…

Our very own Fannie Mae Short Sale Specialist, Pat Moore, attributes a complete package as the key to this quick approval. Pat said…“this is the fastest turnaround we have seen from Indymac or OneWest Bank.”

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So you are probably here because…

…you are going through a short sale or are interested in learning more about them.

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For your education and entertainment, here is a Winged Foot Title scary but true story…

This is the 12th step in our series: “12 Things You Should Know to Survive a Short Sale.”

…that you should always keep in mind while dealing with a short sale:

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That’s right, Winged Foot Title has gotten a…

Short sale approval in 8 days!

…short sale approval in only 8 days!

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NOT LEGAL ADVICE: This information is not to be construed as legal advice. Legal advice must be tailored to the specific circumstances of each case. Every effort has been made to assure that this information is up-to-date as of the date of publication. It is not intended to be a full and exhaustive explanation of the law in any area. This information is not intended as legal advice and may not be used as legal advice. It should not be used to replace the advice of your own legal counsel.

Winged Foot Tite, LLC is not associated with the government, and our [short sale orchestration] service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.