Avoid Foreclosure in Tampa, Clearwater, Riverview & Surrounding Communities

Avoid Foreclosure in Tampa, Clearwater, Riverview & Surrounding Communities

You may be wondering how to avoid foreclosure on your home. Foreclosure is a legal process during which a bank (or lien holder) takes possession of a home or other mortgaged property when the homeowner fails to keep up with the payments. It can cause an extreme mental and emotional drain on a homeowner, particularly because a property in foreclosure becomes public record. Your neighbors, friends, and even bankruptcy attorneys and investors can view the information regarding the process. If you take steps to avoid foreclosure, you’ll be able to keep your mortgage issues private.

Many homeowners aren’t aware that a short sale can help them avoid foreclosure proceedings. What is a short sale? A short sale is an agreement between you and your lender to sell your home for less than what is owed on the mortgage. Your lender agrees to accept that amount as full payment on your loan and does not report a foreclosure to the credit bureaus. You will not, however, receive any money from the sale of your home. Short sales can offer several additional benefits, including:

  • Less damage to your credit score than a reported foreclosure would cause
  • No public dispersal of a foreclosure
  • The potential eligibility to finance and buy a home sooner than after a foreclosure

These benefits can far outweigh the negatives associated with a foreclosure and help you avoid emotional, mental, and financial strain. If you’d like to learn more about short sales, contact a Tampa real estate agent from Nathan Bangs & Associates. As an award-winning REALTOR ® and Certified Distressed Property Expert (CDPE), Nathan Bangs has helped countless homeowners in Tampa, St Petersburg, Clearwater, Seffner, Town n Country, Westchase, and other communities throughout the Bay area short sell a home and avoid foreclosure.

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Contact Information

Photo of Nathan Bangs Real Estate
Nathan Bangs
Keller Williams Realty
3502 Henderson Blvd.
Tampa FL 33609
For Buyers: 813-739-5925
For Sellers: 813-739-5965
Fax: 813.875.3701