Pensacola Homeowners
Avoid Foreclosure


Pensacola Florida, Milton, Pace, Pensacola Beach, G ulf Breeze and Cantonment

Consequences of a Foreclosure

  • You will be ineligible for a government insured loan for 5 to 7 years (only 3 to 4 years in a short sale).
  • You always have to disclose that you had a foreclosure on any mortgage application and many job applications. You will also be required to disclose a deed in lieu of foreclosure and a short sale. A short sale gives you more control of the outcome and is seen as less damaging.
  • The foreclosure will significantly lower your credit score.
  • Many employers run credit check on job applicants.
  • A foreclosure can cost your current job or prevent you from getting hired.
  • Many jobs and professions require a security clearance. A foreclosure can jeopardize the security clearance.
  • You may face a potential deficiency judgment. If you are foreclosed the deficiency judgment will be larger than if you complete a short sale. And in a properly negotiated short sale the mortgage lender will waive their right to pursue a deficiency judgment against you.
  • There can be a potential tax liability as the unrecovered debt is considered taxable income. In a foreclosure it is not just the mortgage amount but also the court fees, attorney fees, house maintenance fees, etc. that will accumulate against you.

  • I have help over 100 homeowners avoid a foreclosure by successfully completing a "short sale". A short sale can be complicated process that may involve more than just one mortgage. I have helped people with multiple mortgages, IRS liens, code enforcement liens, and even vehicle liens. Give me a call at (850) 616-6377 or click on this link and fill out the information and briefly describe your situation .

    • Jack Lara was recommended by a friend. He helped guide me through the process of selling my brother’s house after he passed. I was in another state and Jack walked me through the entire process. He was a knight in shining armor when he investigated an incident for me. Oh! He also got me an offer the first day the house was on the market. We were closed in barely over a month and could not be happier. Thank you, Jack!!" lizdebarr, 15 Hillbrook Way, Pensacola, FL 32503

    • "Jack Lara knows the market better than most Realtors. He can help you with complicated transactions that many agents would shy away from. He had to do an extensive amount of work to get my duplex to closing (beyond the call of duty). He earned every penny of his commission! I held a real-estate license at one time so I know a little bit about how to judge the knowledge and effectiveness of a Realtor. I highly recommend Jack for ANY real-estate transaction." John B.

  • What is a Short Sale? When the amount owed to the mortgage lender is more than what the house will sell for. This causes a shortage amount (a loss). This leaves a remaining balance owed on the loan. The mortgage company is usually just the servicing company, meaning they do not own the loan. The owner of the loan is known as the Investor. The investor must decide on how much of a loss is acceptable.
  • The investor will require justification from the borrower "you" as to why a loss should be accepted. Some investors may require very little information.
  • Usually though the investor will ask for tax returns, bank statements, pay stubs and a financial statement. The investor will want to confirm that there is truly a financial hardship.
  • There can be many issues that cause a financial hardship. I have seen hardships such as the dissolution of a marriage, medical expenses, loss of income, reduction in income, accidents, etc. And it has been my experience that the cause of the hardship is more than one issue. What usually happens is that the borrower is overwhelmed with a multitude of issues which occur in a confined time frame.
  • You sell Your home in "as is" condition.
  • Repairs are not required
  • You do not pay any closing costs!
  • You do not pay any commission.
  • If there are other loans (mortgages) and other liens then I will need to negotiate those to an amount acceptable by the first lender. The superior lien holder has the amount of money they receive reduced by the amount they allow to be paid to the other lien holders.

    • "Jack continued to keep me up to date during my sell from beginning to finish. He made what can normally be a stressful time go timely and without any unsolvable problems. Whenever any problem came up his knowledge enabled him to handle it in an expedient and professional manner." Linda P., Milton, Florida.

    • "Jack is the best real estate agent I have ever had the pleasure to work with. He took on a very difficult short sale that most other agents would not even consider and then was diligent and professional. Most importantly, he was successful. When challenges popped up, he overcame them. If I ever do another real estate deal in Pensacola, Jack will certainly be the first person I call. I have worked with many so-called real estate professionals that are more of a liability in getting a transaction complete than an asset. They must be babysat throughout the deal. I would trust Jack to handle every aspect from start to finish and to have my best interests covered every step of the way." Aaron W.

      Short Sale Information
All information deemed reliable but not guaranteed. Please Seek Financial and Legal Advice from Licensed Professionals
Joaquin Alberto Lara, LLC Better Homes and Gardens Real Estate, Main Street Properties