Florida Short Sale Attorneys
 If you are finding it increasingly difficult to make your monthly mortgage payments and are facing the possibility of foreclosure, you may need an experienced Florida short sale attorney to negotiate with your bank.
What is a Short Sale?
A short sale occurs when a lender accepts less than the total amount due incident to the sale of your home. In today's economic environment, more and more lenders are initiating short sale programs to assist people in selling their homes and avoiding foreclosure.
What are the Benefits of a Short Sale?
If approved by the lender in a timely manner, the following are some of the benefits of a properly performed short sale in Florida:
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Avoid foreclosure. The negative effect on one's credit, auction signs,
deficiency judgments and other negative consequences of foreclosure may possibly be avoided by the successful negotiation of a short sale.
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Avoid bankruptcy. Even when a homeowner is behind in mortgage payments
and owes the lender more than the house is worth, a successful short sale could allow a homeowner to avoid filing for bankruptcy under
certain circumstances.
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Possibly eliminate the balance of any mortgage and home equity loan owed to the lender. Such forgiveness does not always occur in a short sale situation, but can be more likely with a short sale than with a foreclosure.
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A Short Sale transaction also provides peace of mind and predictability because you will have more specific information regarding when the transaction will take place, and thus when you will need to vacate the property.
Why would I hire a Real Estate Attorney to do a Short Sale for me?
Defaulting on mortgage payments can be a difficult and complicated situation. Many people find themselves falling into default, or are already in default, and don't realize that there are options available before the bank takes the house away. A short sale is an excellent way to avoid foreclosure and can offer time and protection, as long as it is done properly by a qualified attorney. Short sales are more complicated and time consuming than an average real estate sale. Additionally, it can be very difficult to convince a bank that they will profit more if they accept less money from the sale than what is owed to them. Given the complexity of negotiating a short sale, it is important to retain an experienced and knowledgeable attorney to oversee and negotiate the transaction. The attorneys of our law firm have extensive experience striking deals with lenders to help clients avoid foreclosure. Let us put our experience to work for you.
Disclaimer:
It is important to understand that just because your bank is discussing a short sale with you does not mean they have agreed not to go ahead with foreclosure. While you are negotiating, the bank could be preparing for foreclosure. It is also important to note that, in some cases, banks write off their losses from short sales, but in other cases, they require borrowers to sign promissory notes agreeing to eventually pay back the difference between the sale price and the mortgage debt.
INFORMATION HEREIN IS NOT LEGAL ADVICE. The opinions expressed in this web site represent only the opinions of the author(s) and are in no way intended as legal advice upon which you should rely. Every person's situation is different and requires an attorney to review the situation personally with you. NO ATTORNEY-CLIENT RELATIONSHIP CREATED. This web site does not create an attorney-client relationship. Do no rely on any information on this site as it may be outdated or may not apply directly to your particular situation. Attorney Mortgage Solutions practices law only in the State of FLorida where authorized to practice and does not seek to represent anyone in any other jurisdiction.
For more information about short sales, our fees or to schedule an initial phone consultation, please contact Attorney Mortgage Solutions today at 954-577-3177 or e-mail at seth@attorneymortgagesolutions.com |
