Providence Short Sale Lawyer
What is a Short Sale?
A short sale is the sale of real estate where the servicer and investor agree to accept less than the amount owed on the mortgage as part of an agreed upon sale, instead of completing a foreclosure action of the property. If a home owner owes his lender $300,000. on his loan but can only sell it for $250,000, a short sale approved by the servicer and investor would allow that sale to go through even though not all of the debt the homeowner owed was covered by the sale. The lender would release the homeowner from further obligation on that loan.
If you are having difficulties in meeting your financial obligations and can no longer afford your home, rather than face a foreclosure, you can attempt the Short Sale option to avoid the negative impact on your credit that a foreclosure and/or bankruptcy would cause. Our experienced and caring Massachusetts and Rhode Island foreclosure defense attorney at BK Law Group PC has the skill and persistence you need to get your Short Sale approved. In addition, we work hard to negotiate a cash for keys incentive to help with your relocation and moving expenses.
Benefits of a Short Sale in Massachusetts and Rhode Island
A Short sale may offer you the benefit of possibly not having to file for bankruptcy, especially if your home is one of the primary reasons you are having financial difficulties. Attorney Balser will carefully review your financial situation personally, and discuss all your legal options. Having a professional contact your lender and present your financial situation fully in order to get your Short Sale accepted is vitally important to its approval. Being able to sell your home and get out of the overwhelming debt will provide relief and a new start for you financially. It will also allow you to preserve your credit record without having a foreclosure on it that can greatly impact your future. For a free consultation to discuss your specific situation, contact our office today.
A Short Sale might be a viable alternative to a foreclosure. Contact a Massachusetts and Rhode Island Short Sale Lawyer to find out your legal options.