Those that purchased real estate on Hilton Head Island at the height of the market(mid 2000’s) may feel a bit trapped, but we are finding solutions to help get our market moving.  If your Hilton Head property is holding you back  from major things that you want to pay for or purchase in the next few years, we would like to talk to you. 

Three possible ways to get out of the trap
  1. Short Sales ~ Short sales occur when the lender agrees to discount the amount of the loan balance for full satisfaction of debt.  It should be noted that this may be a timing opportunity as lenders are currently working with our property owners to help make this happen.  We have found that banks benefit from having the owner pay the light bill and short sales often occur faster than foreclosures(believe it or not).  We have had completed short sales with homes, villas, lots, second homes and even homes with a first and second lien.
  2. Deed in Lieu of Foreclosure ~ Although uncommon in the present Hilton Head market this process is signing the property over to the mortgage company without foreclosure.  Sellers that have second liens on their property may not be eligible for Deed in Lieu.  Although the loan may be entered on your credit, this would not do as much damage as a foreclosure would.
  3. Foreclosure ~ This is where you toss the keys to the bank and walk away.  This will effect your credit rating more so than a short sale and should be considered a last resort after trying a short sale.  It should be mentioned that if you are heading to foreclosure a short sale or cash buyer can stay a foreclosure and the negotiations can begin with the banks loss mitigation department.

We have helped many Hilton Head property owners that owe more than their property is worth design an exit strategy.  Even if you are heading towards foreclosure we may be able to help get the foreclosure stayed with a short sale or cash buyer. If you would like to explore our services, please email me at robbie@robbiebunting.com anytime and we will send to you information on anything you may need. You can also call me direct at (843)842-0805.

By the way…If you are loving your property on Hilton Head…

We would love to offer our assistance to enhance your ownership. Our simple goal in helping you is that we are always looking for ways to expand our business and we need your help for that. If you are pleased with our services you may want to refer others. We would love to help you with:

  • Maximizing your rental return with our websites
  • Helping you find local lenders for refinancing
  • Finding good quality craftspeople or interior designers for every aspect of ownership