Underwater / Owe More Than It's Worth
Being underwater means your mortgage balance is higher than what the home would sell for. It can feel like a trap, but there are paths built for exactly this situation.
Options to explore
- Loan modification, if you want to stay and can afford a new payment
- Short sale, with lender approval
- Deed in lieu of foreclosure
Protect yourself from a deficiency
Because Florida allows deficiency judgments, always ask for a written deficiency waiver in any short sale or deed-in-lieu agreement.
Keep exploring
Behind on Mortgage Payments
Missed one or more payments? This is the stage with the most options.
Learn moreReceived a Notice of Default or Demand Letter
A breach or demand letter means the lender is preparing for the next step.
Learn moreServed With Foreclosure Papers
A summons and complaint start the court case. Deadlines now matter.
Learn moreYou don't have to figure this out alone
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