Miami Short Sale Attorney
Talk with a Foreclosure Defense Lawyer
If you owe money on your home or other property, you may find yourself
facing creditor threats of foreclosure. A short sale can be a good option
in this situation, as it helps a homeowner avoid foreclosure and falling
further into debt. This also prevents a bank or other creditor from simply
seizing your property without any benefit to you. While short sales will
not cover the total cost that is owed, creditors often accept this money,
as it will be close to the total loan amount and ensures they don't
have to pursue legal action.
Do you think a short sale may be a viable option for your situation?
Contact the foreclosure defense attorney
at Orshan, P.A. today. We are ready to help!
Is a short sale right for your case?
A short sale occurs when a homeowner quickly places their property on the
market to pay back as much as possible to their creditors, instead of
allowing the home to go into foreclosure. You must either come up with
capital to cover this difference, develop an agreement with a lender to
forgive the balance of the loan, or develop a repayment plan. Most lenders
are willing to negotiate to some extent, especially when a lawyer is behind the case.
In order to work with a creditor to sell a home in a short sale, you must:
- Prove that you are experiencing financial hardship and are unable to make payments;
- Show the total amount of the property is worth less than what you owe;
- Find a qualified buyer to purchase the property with the lender's approval; and
- Convince the lender that a lawyer is behind the case.
- Instead of allowing the home to go into debt, it is in their best interests
to allow you to sell the property.
While pursuing a short sale can be a great way to close out mortgage payments,
there are certain factors that should be taken into consideration beforehand.
For example, you will have to have another place lined up to move into,
your credit score may be affected, and other complications. However, when
you hire a
Miami bankruptcy lawyer, you can rest assured knowing your case will be in knowledgeable hands.
Reach Out to Orshan, P.A. for Counsel
Deciding to sell your property in a short sale should not be taken lightly.
Just as there are benefits to a short sale, there are also downfalls that
you must navigate as you work through the process. By retaining a trusted
advocate from Orshan, P.A., you can resolve your short sale in an effective
and favorable manner for your best possible outcome.
Call our Miami foreclosure attorney
to find out if a short sale is right for you.