Short Sale Video – Short Sale Hope

on June 17th, 2011 | Filed under Short Sale, Short Sale News, short sale story, short sale success, short sale video

What do you do after a loan modification does not work? A Sarasota homeowner discusses her journey to find the answers and the decision she made to complete a short sale, as well as the emotional and financial relief she found after the process was over. We believe her story will help you find the solution you need and understand the true benefits of a short sale.


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Top 5 List – Reasons to Consider a Short Sale

on May 10th, 2011 | Filed under Short Sale News

When facing the possibility of foreclosure, there are many solutions, including Reinstatement, Forbearance, Renting the Property, Refinance, Loan Modification, Bankruptcy, and a Short Sale.

Sarasota Short Sales

Which of these alternatives to foreclosure is right path to take? Since everyone’s objective and circumstances are different, it’s important to understand the potential consequences of each solution to make the best decision. With a foreclosure, the consequences could be the most severe, negatively impacting your credit, job security and future opportunities for housing as well as the threat of a deficiency judgment.

In many cases, the best possible option may be a short sale. Short sales are generally found to be the least damaging to your credit and the fastest path to financial recovery. Here are some common benefits of a short sale.

#1 – LOW COST ALTERNATIVE – It normally does not cost you any “out of pocket” expense to complete a short sale. Properties sold as a short sale are usually sold “As Is,” which means there is no expense to repair the property to sell. Your lender also generally pays the real estate commission and all expenses associated with the sale.

#2 – MINIMIZED CREDIT DAMAGE – There is minimized damage to your credit on a short sale compared to a foreclosure. Most short sales will only impact your credit score 80–100 points, compared to 250–350 points with a foreclosure.

#3 – FASTER FINANCIAL RECOVERY – Following a short sale, a homeowner may be able to secure new financing within 2 years compared to 7 years on a foreclosure.

#4 – PLACE TO STAY - A Short Sale is a dignified solution to a difficult problem. A Short Sale allows you to stay in your home until the property is sold. In fact, a short sale can delay a foreclosure. In many cases, a lender will delay a pending foreclosure to ratify a pending short sale.

#5 – FRESH START – A short sale gives a homeowner a new start. A short sale will make the process of finding another property to move into easier. In addition, the Mortgage Forgiveness Debt Relief Act of 2007 may be applicable to your situation and may give you the opportunity not to pay taxes on the difference between your loan amount and the short sale price.

For more information about short sale options in Sarasota, Florida, call Realtor & Short Sale Expert Troy Funk at (941) 957-3737. Troy Funk is Cerified Dispressed Property Expert (CDPE) & Short Sale and Foreclosure Resource (SFR) certified has been a licensed Real Estate agent in Sarasota, Florida for more than 25 years. He specializes in short sales and REO / Bank Owned Real Estate in Sarasota and Manatee counties, and is associated with RE/MAX Platinum Realty  at 665 South Orange Ave., Suite 2, Sarasota, FL 34236.

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New Rules to Improve Short Sales in Sarasota & Beyond

on July 20th, 2012 | Filed under Sarasota Short Sale Blog, Short Sale News

Sarasota, FL – As short sales in Sarasota County, Southwest Florida, rise in popularity, new rules have been put in place to expedite short sales.

The Federal Housing Finance Agency is now requiring that Fannie Mae and Freddie Mac respond to initial requests for short sales within 30 days of receiving a buyer’s submission and to give final decisions within 60 days. Not only will this help buyers and sellers of short sales, it will also help the real estate market as a whole.

If you or someone you know is suffering financial hardship and might benefit from a short sale, please contact us. At the Troy Funk Team, we have helped many homeowners find relief and recovery via a short sale in Sarasota County, Florida.

Troy Funk, CDPE, SFR
Sarasota Certified Distressed Property Expert
Sarasota Short Sales & Foreclosures Resource
Florida Licensed Real Estate Agent

RE/MAX Platinum Realty
665 S. Orange Ave. #2
Sarasota, FL 34236
(941) 365-8769

Sarasota Short Sale Testimonial Video


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Why Should You Short Sale Your Sarasota Home?

on June 29th, 2012 | Filed under Sarasota Short Sale Blog

Sarasota, FL – Many Sarasota County homeowners are stuck with a home that is worth less than what they owe on it, and due to financial hardship, they cannot keep up with their mortgage payments.

If you find yourself burdened by an underwater mortgage, you owe it to yourself to learn about short sales.  Too many homeowners, threatened by foreclosure, are not aware of all their rights, and end up being forced out of their very own homes because they didn’t realize they had any choices and didn’t know about short sale benefits.

When you’re suffering from financial hardship, it’s common to feel overwhelmed and even paralyzed by depression over your circumstances.  As experts on Short Sales in Sarasota and Florida, we have helped many homeowners transition from despair to relief. In fact, our team leader, Troy Funk, has faced foreclosure himself, and triumphed over it with short sales on his own properties in Sarasota County.

3 key tips to keep in mind when facing foreclosure:

  1. Professional Help.  Seek professional guidance by a qualified short sale agent in your area. Ask questions and get the answer you need.
  2. Free Help.  In most cases, your short sale agent’s commission is paid by your lender. So you generally don’t have to worry about the cost of getting the help you need.
  3. Act ASAP.  The longer you put off a short sale, the more likely your home will fall into foreclosure.

Contact us today for a free consultation about short selling your home in Florida.

Troy Funk, CDPE, SFR
Sarasota Certified Distressed Property Expert
Sarasota Short Sales & Foreclosures Resource
Florida Licensed Real Estate Agent

RE/MAX Platinum Realty
665 S. Orange Ave. #2
Sarasota, FL 34236
(941) 365-8769

Sarasota Short Sale Testimonial Video


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Real Estate Listings – Foreclosures for Sale in Sarasota & Manatee Counties

on June 1st, 2012 | Filed under Sarasota Short Sale Blog

Sarasota & Manatee Foreclosures for Sale


Sarasota Home for Sale (REO) - Preserve at Misty Creek - $329,900


Deer Hollow - Sarasota Foreclosure - $199,000


Bradenton Foreclosure with Pool & Garage - $175,900


Bradenton Foreclosure in Briarwood with Caged Pool - $138,900


Pinehurst Sarasota Foreclosure in Maintenance Free Community - $130,900


Sarasota Home for Sale (REO) - $74,900


Sarasota Foreclosure - Condo for Sale in Serenade On Palmer Ranch - $67,500


Foreclosure - Sarasota Home for Sale - $61,700


Bradenton Foreclosure for Sale (REO) - $50,900


Sarasota Foreclosure for Sale - $47,600 - Near Ringling College of Art & Design


Bayshore Gardens - Bradenton Foreclosure for Sale - $44,900


Ellenton Foreclosure in 55+ Community - PRICE REDUCTION! $44,900


Sarasota Foreclosure / REO - Great Investment Opportunity - $30,000


Bradenton Foreclosure for Sale - $30,000


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Florida Short Sales in Sarasota County, Manatee County & Charlotte County

on May 25th, 2012 | Filed under Sarasota Short Sale Blog, Short Sale, Short Sale Listings

Florida Short Sales in Sarasota, Manatee & Charlotte County


Sarasota Short Sale - Siesta Key - $465,000


Osprey Short Sale - The Oaks Clubside - $450,000


Sarasota Short Sale - Red Hawk Reserve - $439,000


Short Sale - Condo for Sale in Alinari at Rosemary Place, Sarasota - $325,000


Short Sale Sarasota - 7 Acres - $300,000


Sarasota Short Sale - Near Ringling Museum - $249,900


Bradenton Short Sale - Heritage Harbour - $239,900


Sarasota Short Sale - South Gate Home for Sale - $225,000


Sarasota Short Sale with Swimming Pool - Close to Siesta Key Beaches - $225,000


Sarasota Short Sale - $197,500

Myakka City Short Sale on 5 Acres with Pond - $175,000

Sarasota Short Sale - Pool Home for Sale - $160,000

Nokomis Short Sale - $155,000

Sarasota Short Sale - $129,900

Sarasota Short Sale in the Heart of Sarasota, FL - $124,900 - PRICE REDUCTION!

Sarasota Short Sale - $119,900

Sarasota Short Sale - $105,900

Venice Short Sale - Sarasota County - $99,000

Sarasota Short Sale - Condo in Las Palmas, Sarasota - $74,000

Cute Short Sale in Sarasota, Florida - $69,900

Port Charlotte Short Sale - $59,900

Sarasota Short Sale - $54,900

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Sarasota Short Sales & Sarasota Foreclosures – Real Estate Listings

on May 18th, 2012 | Filed under Sarasota Short Sale Blog, Short Sale, Short Sale Listings

Sarasota Foreclosures

Below are real estate listings for foreclosures for sale in Sarasota County, including foreclosures in Sarasota, Siesta Key, Bradenton, Venice, Ellenton. For more information about these homes for sale, click on the link and contact Troy Funk, CDPE, SFR, Sarasota Real Estate Agent & Short Sale Broker.
Sarasota Home for Sale (REO) - Preserve at Misty Creek - $329,900

Foreclosure for Sale - Venice, Florida - $48,900

Venice Foreclosure for Sale (REO) – $48,900

Ellenton Foreclosure in 55+ Community - $47,500

Sarasota Short Sales

Below is a list of Short Sales in Sarasota County, including short sales in Siesta Key, Osprey, Nokomis, Bradenton, Myakka City, and Port Charlotte. For more information on these homes for sale, click on the links and contact Troy Funk, CDPE, SFR, Sarasota Real Estate Agent & Short Sale Broker,
Sarasota Short Sale with Swimming Pool - Close to Siesta Key Beaches - $225,000

Sarasota Short Sale in the Heart of Sarasota, FL - $130,000

Sarasota Short Sale in the Heart of Sarasota, FL – $130,000

Sarasota Short Sale - $119,900

Cute Short Sale in Sarasota, Florida - $69,900

Cute Short Sale in Sarasota, Florida – $69,900

Port Charlotte Short Sale - $59,900

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Before a Foreclosure Sale, Should I take the Kitchen Cabinets, Fixtures, Doorknobs, etc.?

on October 8th, 2010 | Filed under Sarasota Short Sale Blog

Countless homeowners facing foreclosure are under tremendous stress and need money.  When deciding to “Walk Away” from their homes, we see many of them realize that their dream of homeownership is about to end.  As a result, many homeowners see an opportunity to strip their houses of anything of value; taking built-in appliances, light fixtures, landscaping, etc. to sell for profit or take with them.   Many times, homeowners will leave the house with excessive junk and will even make efforts to destroy the house.  The question is:  Is this Morally Acceptable and Legal?

In many cases, foreclosure of someone’s home is a result of circumstances that are out of their control.   Looking out for one’s personal interest may seem to have good merit, providing they are not hurting someone else.   However, they ARE hurting someone else, including themselves.

For example, I was watching someone I know lose their home to foreclosure.  Before the bank took ownership of the house, the homeowner legally prolonged the foreclosure sale for as long as they possibly could to stay in the house as long as they could without paying.  Before the sale date, the homeowner “Stripped the House” of all the built-in appliances, kitchen cabinets, door knobs, and even removed some of the landscaping.    When the homeowner left the house, they ended up leaving an excessive amount of junk.  Then, they went on a mission to destroy the house.   They did this with their children, friends, and neighbors knowing and watching what they were doing.   Did they get away with it?  No they did not!   They demonstrated their character to the world and left a legacy to their children and the people around them that they were criminals, regardless of whether they went to jail or not.

In some cases, we have heard of lenders prosecuting owners who “steal” from the property and destroy what becomes the lenders asset.  However, the most tragic aspect of this is that in many cases, it could have been prevented.  Foreclosure is not always the only option when facing Foreclosure.   Homeowners who are able to Short Sale their home before the home is foreclosed put themselves back on the road to “Financial Recovery”  and may be able to qualify to purchase another home within 2 years.  A Short Sale is also preferable to the lender because the homeowner continues to live in and maintain the property until the sale date instead of destroying or abandoning the property if it goes into foreclosure.

If you are facing foreclosure, talk to a Short Sale Real Estate Specialist in your area to learn of your options for avoiding foreclosure.  For more information on Short Sales and the options to foreclosure, visit

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Foreclosures: Frustration, Fear…And Now Fraud?

on October 3rd, 2010 | Filed under Sarasota Short Sale Blog

A recent article by Leslie Ebersole from Baird & Warner Real Estate in Illinois, points our the recent changes in some banks delaying foreclosures in 23 States.  Florida is fortunately one of those States where many lenders are delaying foreclosures.  If you have a home in foreclosure in Sarasota, Florida this could be good news if you are looking to complete a Short Sale.

As a Short Sale Real Estate Specialist in Sarasota, Floirda, our goal is to help homeowners with Recovery.  For more information on Short Sales in Sarasota, Florida, visit our website



Via Leslie Ebersole (Baird&Warner Real Estate):

Fraud? This week’s news about delaying foreclosures and evictions in 23 states due to bank officials’ admissions of fraud has been astonishing. If you’ve been involved in a foreclosure or a short sale, you have almost certainly experienced frustration with the banks involved. But are those frustrating or even inexplicable processes the same as fraud? They may be related. Fraud is intentional deception designed to harm an individual. States that require judicial foreclosure have lengthy and detailed processes for repossessing a home due to payment default…but if those procedures aren’t strictly followed, the foreclosure could be fraudulent.

Coming at a time when housing sales have slowed and election rhetoric is heating up, it’s going to be hard to sort out the truth from the posturing.

Many people who purchased REOs (bank owned properties) are now worried about the legal status of their ownership. The homes they thought they owned may not have clear title if the home was illegally foreclosed on.

Title companies may seek to avoid paying claims by REO home owners and their lenders by pointing back to fraudulent foreclosure procedures if the previous homeowners claim that they were victims of foreclosure fraud and seek to reclaim those homes.

New buyers will be reluctant to purchase homes that may be caught up in years of dispute. Neighborhoods with vacant foreclosures will suffer as those homes continue to deteriorate.

Ally Financial, formally called GMAC, said on September 21 that they would halt evictions on foreclosures after bank executives admitted in Florida that 1000s of foreclosures may not have been conducted with regard to due procedure.

“Defective documentation has created millions of blighted titles that will plague the nation for the next decade,” said Richard Kessler, an attorney in Sarasota, Florida, who conducted a study that found errors in about three-fourths of court filings related to home repossessions (Bloomberg).

Such mistakes may allow former owners to challenge the repossession of homes long after the properties are resold, according to Kessler. Homes that were purchased as REOs may not have clear title. Previous owners could pursue reclaiming their home due to fraudulent foreclosure practices. Some title companies are quickly responding by raising rates and holding up approval of title polices for new sales of REOs.

Right on the heels of the Ally Financial halt to new evictions, JP Morgan Chase stated that it would ask judges in judicial foreclosure states to postpone rulings on new foreclosures.

On October 1, Acting Comptroller of the Currency John Walsh asked the nations’ seven largest lenders to review its foreclosure processes for any sign of faulty documents (Housing Wire).

On October 2 the Chicago Tribune wrote that Bank of America is delaying foreclosures in 23 states as it examines whether it rushed the foreclosure process for thousands of homeowners without reading the documents. “A document obtained Friday by the Associated Press showed a Bank of Americaofficial acknowledging in a legal proceeding that she signed up to 8,000 foreclosure documents a month and typically didn’t read them. The official, Renee Hertzler, said in a February deposition that she signed 7,000 to 8,000 foreclosure documents a month. ”

Fannie Mae and Freddie Machave issued new directives to their lenders and servicers to review their foreclosure processes to make sure they are in compliance with each state’s laws (Housing Wire).

Banks are expected to take over a record 1.2 million homes this year, up from about 1 million last year and just 100,000 as recently as 2005, according to Realty Trac.

The state Attorney Generals enforce foreclosures and many responded this week with orders to halt new foreclosures, evictions on current foreclosures and launch reviews of past foreclosures. Among the many AG actions, on September 30 Illinois Attorney General Lisa Madigan issued a letter to the mortgage lender JP Morgan Chase demanding a meeting to address concerns the company has violated the state’s Consumer Fraud Act in its pursuit of Illinois homeowners in foreclosure.

“With JP Morgan now acknowledging possible abuses in preparing court documents, the impact on homeowners in our state and across the country could be great,” Madigan said. “As with Ally Bank, if I determine JP Morgan was recklessly signing off on foreclosure filings in our courts, I will hold them accountable. These struggling homeowners deserve better.” This letter comes less than a week after demanding a similar meeting with Ally Bank.

In IL concerned homeowners can call the Attorney General’s Homeowners’ Referral Helpline toll free at (866) 544-7151.  

The Chicago Tribune reported that “In some states, lenders can foreclose quickly on delinquent mortgage borrowers. By contrast, the 23 states in which Bank of America is delaying foreclosures use a lengthy court process. They require documents to verify information on the mortgage, including who owns it.

Those states are:

Connecticut, Delaware, Florida, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Nebraska, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Pennsylvania, South Carolina, South Dakota, Vermont and Wisconsin.”

This post was written by Leslie Ebersole of Baird & Warner Real Estate.

If you would like more information about the Chicago Western Suburbs and the Fox River Valley
St. Charles
, Geneva, Batavia, Wayne, Elburn, and South Elgin

Please call (630)945-7935
My website
Email me at




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On a Short Sale, can I sell my property to my Wife, Brother, or my own Company?

on October 1st, 2010 | Filed under Sarasota Short Sale Blog


In a Short Sale, lenders often request that the buyer and seller sign an Affidavit of “Arms Length Transaction”.

This affidavit usually states wording such as; 

“No party to this contract is a family member, business associate, or share a business associate, or share sare a business interest with the mortgagee”.   Furthermore, there

Are no hidden terms or special understandings between the seller or buyer or their agents or Mortgagee.  The  Buyers and Sellers nor their Agents have any agreements written or implied that will allow the Seller to remain in the property as renters or regain ownership of said property at anytime after the execution of this short sale transaction.  None of the parties shall receive any proceeds from this transaction except the sales commission.  The atransaticn may not involve a third party who received a deed prior to this closing or after this closing and before recording of the deed to the purchaser.   All parties verify that the HUD1 Settlement Statement is accurate and truthfully disclose all aspects of the transaction, that Buyers and Sellers received no payment, credit or other consideration except as shown in the HUD1 Settlement Statement, and the there has been no collusion between the Seller, Buyer, Broker, or any other Person, to misrepresent any fact to the Lender” 

The simple answer to the question, “On a Short Sale, can I sell my property to my Wife, Brother, or my own Company? … The answer is NO.


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Getting Even with the Lender before they Foreclosure on my house.

on September 29th, 2010 | Filed under Sarasota Short Sale Blog


As a Short Sale Real Estate Specialist in Sarasota, Florida with Keller Williams Realty, I write a blog almost everyday through Active Rain and get good response from it.  However, the other day I wrote a blog titled: 

 “Before a Foreclosure, Should I take the Kitchen Cabinets, Fixtures, Doorknobs, etc.? “

Shortly after I posted this, my e-mail blew up with responses from the Active Rain community and the post quickly became a Featured Blog.  Most of the responses were consistent with my believe, however their was one response that invoked a lot more controversy from an anonymous person.  The responces after his response,  became a lot more passionate.  Thank you, Jayson Holland with RE/MAX for your response, I am giving you credit as I liked your responce the best. 

From this I am “Re-blogging” the best part of the most popular blog I have ever posted on Active Rain. 

If you have a few minutes, please read through this and post your comment.  If you want to spread the word, please “re-blog” this and click on the Facebook “Like” button at the bottom of this blog.   In hindsight this Blog should have been titled “Speak Up America” …  

Response from an anonymous person

Because of the lack of morals and ethics demonstrated by the banks as they systemicly compromised every element of the checks and balances that protected the consumer, they deserve the very worst treatment conceived by man. Frankly, that is exactly what they are doing to the consumer. Every home headed for bank ownership should be destroyed! Rendered uninhabitable! If you need a home, buy via traditional channels or have one build. Now that will be a real economic stimulas.

You are aware the bank had the opportunity to work something out. They simply decided it is better for the bank to collect the bail out money, the mortgage mod money, the mod default money, the FDIC money, the harn money. BAnk of AMerica said, ”Kick the children out of the house and sell it for 1/4 what we may have settled for with the existing owner.”  The banks are still in the greed mode. These blood home they have created should be avoided like the plague. Those practitioners who profit in buying and selling these blood homes should be presented for long enduring public redicule. The marketing of these blood home should be relgated to carnivals and flee markets and not polluting the marketplace where honerable and hard working real estate agents work tirelessly to service home buyers.

You are truly misguided when you think justice is served when morality applies only to one side of the equation. Render them worthless! The banks have profited enough from the tears of children, the anquish of parents, the betrayal of trust.

Response from Jayson Holland:

Wow, it didnt take long for someone(s) to throw out the victim card.

Let me get this right: it’s not the borrowers fault that the borrower committed loan fraud and lied on a loan application, its the fault of the big bad bank for giving them the money? Of course its not the borrower’s fault at all. I understand!

The borrower is just the “victim” of the big bad bank giving them money to buy a house that they never should have been allowed to buy.  And its the government’s fault (too) for not supervising the banks closely enough, right? It is certainly not the borrowers fault. 

Oh I get it now.  

Furthermore, it must be all the big bad bank’s fault that the borrower cannot make their payments that they said they could make, and that they promised they would make. That they signed document after document at closing stating that they would make. 

And now that they havent made a payment to the bank (in most cases) in over a YEAR, and they are finally being foreclosed on, it is perfectly ok for them to destroy the house to “teach the bank a lesson”, since it is not the borrower’s fault at all. Right?

Thanks for making that clear, I just didnt get it before now. 

Wow, what country are we living in right now? I want to move back to America.  

Jayson Holland (RE/MAX )
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Short Sale Buyer is “Not” the Buyer of my Short Sale

on September 29th, 2010 | Filed under Sarasota Short Sale Blog


In Sarasota, Florida there are many companies and investors stating they will “Buy your house for Cash”.   Many of these companies and investors are not Cash Buyers, they are Speculators.  By Speculator I mean they contract to purchase a property at what they believe to be a great value and while the home they are purchasing is under contract, they actively seek to find their own buyer who will pay them more than what they are willing to pay for the property.  If they are successful in reselling the property for more money before or at the closing of their purchase with the original seller, then they follow through with the sale.   If they are not able to find a buyer willing to pay more for the property before their closing, then they back out of the sale (normally during the time period of the “Right to Inspect” clause in the contract).  

Often sellers who are facing foreclosure and are trying to Short Sale their home don’t have time for games or people that play them as they are on a timeline to sell their property before the foreclosure sale.   There are many ways to protect yourself as a seller of a Short Sale, however one of the best ways is to hire an experienced Short Sale Real Estate Agent in your area.  This person works for you, however is paid at closing by the lender, and they may help you avoid a foreclosure.  For more information on Short Sales, Options to Foreclosure, and how Stop Foreclosure, visit:


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