Are you in a situation that you never thought could happen to you? Are you worried about losing your property through bank foreclosure? If so, Century 21 First Realty in Tallahassee has created resource videos that explain your options and some processes that might be right for you.

If you are facing a possible foreclosure due to late payments on your mortgage, there are some things that you can do to get back in the good graces of the bank(s). You could:

• Get current on your payments
• Work-out a loan modification with the bank(s)
• Ask the bank for forbearance (put the past-due payments as principal on the back-end of the loan)
• Surrender your deed to the bank (Deed in lieu of foreclosure)
• Sell your property and pay-off all liens
• Sell your property through a “short sale”

So what does all this mean? Well, that is exactly why we have created the Foreclosure Resource Page on the Tallahassee Real Estate Web Site. Below are some of the selected videos from this excellent resource on foreclosure and bad-debt situations.

What Options Does A Homeowner Have When Faced With Foreclosure?

What is a Short Sale and How Does It Work?

Short Sale Secrets and Solutions

The Top Five Reasons Why Short Sales Fail To Close

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Joe Manausa is a real estate investor and the Broker and Co-Owner of Century 21 First Realty. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001.