Jacksonville/St Augustine Realtor Helps Homeowners Avoid Foreclosure!

April 14, 2012 - PRLog -- By now you may have or even should have heard of the term, "short sale". It's all the buzz in real estate these days with the struggling economy and housing market and Tom Rineberg, a Licensed Real Estate Broker and certified short sale specialist with Spectrum Realty Services knows this all too well.

Tom has been helping upside-down distressed homeowners avoid foreclosure in the greater Jacksonville/St Augustine area including Clay, Duval and St Johns counties for over half a decade now. Tom says he rarely receives a call these days from sellers with equity in their home, in fact most of the calls he said he gets are from either distressed homeowners who unfortunately have come to the realization they must sell their home to avoid foreclosure or from homeowners who have decided to simply walk away because they've seen the value of their homes drop considerably below that of what they owe and don't believe they'll ever be in an equitable position again. Tom says, though, that between the two calls, the majority of calls are still coming from distressed homeowners facing foreclosure.

So just what is a short sale and How does it benefit an upside down or distressed homeowner? A short sale is when a homeowner sells their home short of what they owe the lender and the shortage or difference in debt is forgiven by the bank because of a key piece of legislation that passed known as the "Mortgage Forgiveness Relief Act of 2007".  So, through the process of a "short sale", these upside down, distressed homeowners are able to sell their over leveraged, over valued home that they would otherwise never have been able to sell, pay no closing costs or commissions, owe nothing, save their credit, have the lender forgive the debt, a huge weight lifted off their shoulders and a new lease on life.

Over 95% of all of Tom's business comes from distressed homeowners looking to short sale their homes and he doesn't believe we'll see an end to them anytime soon because of the overwhelming statistics that continue to be released on the rising number of upside homeowners, coupled with the continued lack luster economy and unemployment rates. Tom also cautions anyone who has been on the fence about short selling their home that they may want to make up their mind sooner than later because the "Mortgage Forgiveness Relief Act of 2007" which is essentially the key element to the short sale process and allows the debt to be forgiven will expire on December 31st of 2012 and, unless congress votes to extend it, anyone short selling after that day could be on the hook for the taxable amount of the debt.  

For more information and to get help short selling a home, homeowners can contact Tom Rineberg, Licensed Real Estate Broker with Spectrum Realty Services directly by phone or text at (904) 338-4837 or by email at rineberg@gmail.com.
Homeowners can also go to http://www.RealForeclosureRelief.com where they'll find a number of valuable resources including the opportunity to request a FREE copy of Tom's guide, "The Homeowner's Guide to Fighting Foreclosure", watch videos, take a short quiz to see if they qualify for a short sale, get links to government websites, a Toll Free Homeowner Hotline 24/7, 365 days a year at 1-877-721-8224 and more... .

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Tom Rineberg is a Licensed Real Estate Broker with Spectrum Realty Services and a Certified Short Sale Specialist.