Facing foreclosure in central Florida? You Have Options.

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The Florida housing market has faced its share of ups and downs, leaving many families in a tough spot. If you're behind on mortgage payments, you're not alone and foreclosure doesn't have to be the end of your story. There are several options that may help you keep your home or exit with dignity. 

Below is an overview of possible alternatives, each with it's own pros and cons.

This is the most straightforward path: the homeowner pays everything past due—missed payments, late fees, and penalties—in full to bring the loan current.

• ✅ Pro: No lender approval needed.
• ⚠️ Con: Requires a large lump sum upfront, which can be hard for many families.
   

This option involves working with your lender to catch up on missed payments over time while staying current on future payments.

• ✅ Pro: Offers flexibility to repay over months instead of all at once.
• ⚠️ Con: Lender approval is typically required, and you must prove you can afford the higher payment.
   

A loan modification can restructure your mortgage by lowering the interest rate, extending the term, or adjusting the loan balance to make monthly payments more manageable.

• ✅ Pro: Helps lower your monthly mortgage and make your loan more sustainable.
• ⚠️ Con: Not guaranteed. Lenders require income documentation and approval.
   

If your home’s rent value is high enough, turning it into a rental property may allow you to cover the mortgage while you get back on your feet.

• ✅ Pro: Allows you to keep the home.
• ⚠️ Con: Being a landlord has risks and ongoing costs. Rent might not cover the full expense.
   

This option allows you to voluntarily transfer ownership of your home back to the lender, skipping the formal foreclosure process.

• ✅ Pro: In some cases, the lender may waive the right to pursue additional payment.
• ⚠️ Con: You'll need to move out, and it may still impact your credit.
   

Filing for bankruptcy can temporarily halt foreclosure and eliminate certain debts, depending on the type of filing.

• ✅ Pro: Can provide immediate relief and protect from creditor actions.
• ⚠️ Con: Doesn’t erase the mortgage debt. It's complex, expensive, and stays on your credit report for years.
   

If your credit is strong and your home has equity, refinancing into a new mortgage could be an option.

• ✅ Pro: Could reduce interest rates or monthly payments.
• ⚠️ Con: Less common today due to higher interest rates and tougher lending standards.
   

Active-duty service members may be protected under the Service Members Civil Relief Act (SCRA), which provides financial protections related to mortgage and consumer debt during deployment.

• ✅ Pro: Potentially lower payments and legal protections.
• ⚠️ Con: Only applies to active-duty personnel and specific loan dates.
   

If you have equity in your home, selling it before foreclosure is a practical option. I can help you list your home and close before deadlines hit.

• ✅ Pro: Helps preserve your credit and allows you to walk away with equity.
• ⚠️ Con: Requires enough home value to cover the mortgage and selling costs.
   

If you owe more than your home is worth, a short sale may be a viable option. I specialize in guiding Central Florida homeowners through this process and negotiating directly with lenders to forgive the remaining balance.

• ✅ Pro: Avoids foreclosure, protects your credit, and in many cases prevents a deficiency judgment.
• ⚠️ Con: Can be a lengthy and paperwork-heavy process—working with a qualified expert like me makes all the difference.