Struggling with an Underwater Mortgage in Central Florida?
Don’t Let Foreclosure Steal Your Future – Explore Short Sale Options Today
As Central Florida shifts to a buyer’s market, homeowners who bought between 2020-2023 at peak prices are facing tough choices. We’re here to help you navigate short sales with compassion and expertise.
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Or Call Us: 407-603-1664 | stacyann@realtorstephens.com
Understanding Short Sales in Central Florida’s Shifting Market
In 2025, with home prices softening in Orlando, Kissimmee, and surrounding areas, many sellers are underwater on loans from the 2020-2023 boom. A short sale allows you to sell your home for less than owed, with your lender forgiving the difference – avoiding the devastation of foreclosure.
Why Now? Interest rates are stabilizing, inventory is rising, and buyers are eager for deals. But the process can be daunting without guidance. That’s where Realtor Stephens Team shines – we’ve helped dozens of Central FL families reclaim their financial freedom.
Top 5 Lenders for Short Sales in Florida – And How to Approach Them
Based on 2025 data, these major servicers handle the most short sales. We’ve summarized their processes below, with direct links. Remember: While you can start here, partnering with a local expert like Realtor Stephens Team streamlines negotiations, paperwork, and approvals – often shaving months off the timeline.
1. Bank of America
Process Summary: Ideal for FHA or conventional loans in hardship (e.g., job loss). Options include Traditional Short Sale (with buyer offer) or Cooperative (pre-approval). Gather hardship letter, financials, and property details. Approval in 30-90 days. Less credit hit than foreclosure.
Learn More & Contact BofA | Call: 800-669-66502. Wells Fargo
Process Summary: Start by calling a home preservation specialist. Submit hardship docs, preliminary net sheet, and buyer contract. They review for eligibility (financial distress). Timeline: 60-120 days. Use their approved short sale addendum for smooth closings.
Learn More & Contact Wells Fargo | Call: 1-800-289-80043. JPMorgan Chase
Process Summary: For eligible borrowers facing long-term hardship. Submit application via portal with income statements and hardship affidavit. If approved, list home and submit offers. Focus on proving inability to pay. Approvals in 45-90 days; they offer deficiency waivers.
Learn More & Contact Chase | Call: 1-800-848-91364. Citibank (CitiMortgage)
Process Summary: Traditional approach via HAFA guidelines if applicable. Provide financial package, BPO, and sales contract. They negotiate junior liens. Best for documented hardships; email submissions accepted. Expect 90-180 days.
Learn More & Contact CitiMortgage | Call: 1-800-225-05775. Truist (formerly SunTrust)
Process Summary: Requires proof of hardship impacting income permanently. Gather docs, get pre-approval to list, submit offer package. They prioritize quick reviews for viable sales. Timeline: 60-120 days; deficiency release common.
Learn More & Contact Truist | Call: 1-800-295-5744Pro Tip: Lenders can be bureaucratic – let Realtor Stephens Team handle the heavy lifting. We’ve got proven relationships and a 95% success rate in approvals.
List Your Home with Us Today
407-603-1664 | stacyann@realtorstephens.com
Frequently Asked Questions About Short Sales in Central Florida
What is a short sale?
A short sale is when your lender agrees to let you sell your home for less than what you owe on the mortgage, forgiving the remaining balance to avoid foreclosure.
How long does a short sale take in Florida?
Typically 3-6 months, depending on the lender and documentation.
Will a short sale affect my credit?
Yes, but less severely than foreclosure; expect a 100-120 point drop, recoverable in 2-3 years.
Do I need to be behind on payments for a short sale?
Not always; financial hardship like job loss or medical issues qualifies you.
How can Realtor Stephens Team help with my short sale?
We handle negotiations, paperwork, and lender communications to make the process smooth and stress-free.