Sarasota foreclosures punish homeowners who fail to respond to emotional and technical challenges required to save a home.

No question, facing foreclosure overwhelms most (normal) bullet-proof people. Even people who typically stand up quickly to all life’s challenges, foreclosure adds more stress – especially if kids are involved.

With kids, you want to insulate them from uncertainty. You want to keep them in their schools and around their friends.

On top of emotional challenges, you must call on proven, experienced people to help you save your home and/or avoid foreclosure.

Proven, experienced realtors, attorneys & tax professionals advise you on what’s BEST for YOU. As bad as it is to lose a home and possibly uproot your kids, you don’t want debt collectors to chase you for up to 20 years.

You need to understand 3 common, costly mistakes many homeowners make with Sarasota foreclosures:

1.Florida is a RECOURSE state, which means the borrower can be liable for deficiency after foreclosure or short sale. In other words, the debt owner can go after the borrower even after the borrower loses the house.

a.In fact, a debt owner legally has 5 years in Florida to pursue judgment against borrower and up to 20 years to pursue collections through bank (account) levy and/or wage garnishment. Clearly, judgments are B-A-D.

2.Most people facing foreclosure are not able to confront reality for months after they are served default paperwork.
a.By the time the homeowner calls me, he/she (or they) usually is 3-5 months behind in payments. Please don’t misunderstand me here; I definitely understand. Usually, it’s not (just) foreclosure fears. It’s loss of job. It’s health. Something drastic has happened to cause financial hardship.

3.Most homeowners in distress do not talk with an informed real estate attorney and tax professional. Very dangerous!
a.You need an attorney to protect your rights & serve your best interests.

i.For instance, your attorney must (should) respond to the Complaint when you are served that stack of “foreclosure” paperwork by the process server. In Florida, you have 20 days to respond.

ii.Your attorney and tax professional will advise you on the best option for you.

iii.Your attorney will ensure you receive “full payoff & satisfaction” instead of the bank’s common sneaky tactic.

Personally, I have faced foreclosure twice on investment properties. I understand the emotional side of facing foreclosure as well as the technical side.

On one hand, you need to muster the emotional strength to face this challenge.

On the other hand, you carefully need to pick your advisers. You need proven, experienced advisers including a Realtor, attorney & tax professional.

Sarasota foreclosure prevention requires 3 essential parts: 1. You must face foreclosure reality as quickly as possible – the quicker the better. 2. You must work with proven, experienced people and 3. You must be lucky. Yes, you need luck on your side as fortitude and strong advisers. If you or someone you know is facing foreclosure, please contact me now to discuss your situation. Further, if you or someone you know wants to buy or sell a house in or around Sarasota, Florida, please contact me. I want to help you.

Author Bio: Sarasota Realtor Mike helps homeowners avoid foreclosure. Mike and his team also help buyers and sellers avoid costly mistakes as property values drop and 30-50% off 2006 “bubble” prices are not the bargains they appear to be. Contact me now at 941-914-9980 or Sarasota Real Estate | Sarasota Foreclosures

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