In 1880 President Ulysses Grant visited St. Augustine, accompanied by Frank Hamilton Taylor, an artist who covered the tour for Harper’s Weekly in watercolor illustrations.  More recently, many Florida homes have turned pastel hues in value, watered down by a flood on the market. When your house is under water, a short sale can be a lifeboat.  A short sale is a real estate transaction in which the lender agrees to accept a lesser sale price than the mortgage balance owed on the house.  It is not ideal for anyone involved, but it does give the lender some return on the property, it relieves the homeowner from a mortgage he cannot afford, and it has the by-product bonus of putting another homeowner in the place, instead of leaving it vacant.  Thus a short sale helps maintain the property value in the community.  Again, a short sale is not ideal, but it is often best for the universe when home value is upside down. You are all wet if you think a short sale will stop a foreclosure.  Just because you have a buyer at the table does not prevent a process server from handing you a foreclosure lawsuit.  It may [...] Read More