SHORT SALES & DEBT SETTLEMENT
Lawyer in Orlando, Florida
When a homeowner owes more on a mortgage than a home is worth, homeowners and their mortgage lenders may sometimes consider short sales as an alternative to foreclosure. When a home’s value is lower than the amount owed on the mortgage, sometimes short sales are considered. In a short sale, a homeowner might sell a home or real estate at a discounted price in order to avoid the consequences of falling behind on a mortgage or foreclosure. While purchasing a short sale home or real estate can sometimes give you a deal, it is important to do your research. For example, you’ll want to find out how much is owed on the mortgage, and also check the title of the property to ensure that it is not encumbered by liens or other encumbrances. For example, there may be a second mortgage or loan on the property, in which case, both mortgages or loans must be satisfied for the sale to go through successfully.
Sometimes home sellers are willing to sell their home at a discount to settle a debt. Again, it is important to do your research. How much is the debt that the home owner is trying to settle? Is this the only debt that the homeowner has? Or is there a mortgage on the home that must also be satisfied?
When making a short sale purchase or when selling your home in a short sale or to settle a debt, it is important to have professionals on your side to facilitate the process so that everything goes smoothly. Legal Counsel, PA is a short sale and debt settlement attorney in Orlando, Florida who can help you troubleshoot and get you from making an offer to closing. Contact the firm today to learn more. Have questions? We have answers. Contact Legal Counsel, PA today at 407.982.4321.
If you are a seller and want to sell your home in a short sale, convincing your lender that there is a sufficient hardship to get a short sale granted is one of the biggest challenges homeowners might face. You’ll need to convince the lender that a new situation arose which caused you hardship. Generally, this is done through a short sale application coupled with writing a letter to your lender explaining how the hardship arose, what you have done to try to keep up with your mortgage, and why you think selling the home in a short sale is your best option. Legal Counsel, PA is a short sale law firm in Orlando, Florida who can help you with the short sale process.
What if you are a buyer of a short sale property? What are some common challenges that can arise? Here are some concerns:
If you are considering buying a home in a short sale, or are considering selling your home to settle a debt in a short sale, you need Legal Counsel, PA, a short sale and debt settlement law firm in Orlando, Florida on your side. Our firm can help you draft contracts so that if your situation changes, you are protected in the deal. Legal Counsel, PA can also help buyers of short sale properties manage any issues that might arise during the sale. Have questions? We have answers. Contract Legal Counsel, P.A. today at 407.982.4321.
Let Our Short Sale Lawyers Help You
From making an offer to a lender to completing the short sale, to closing the deal, Legal Counsel, PA can help you with every step of the short sale process in Orlando, Florida. In a short sale, additional parties are involved because the mortgage holder will be often allow the home to be sold at a loss. The mortgage holder may accept your offer or may reject it and ask you to make a higher offer. Having a qualified short sale law firm like Legal Counsel, PA on your side can help you navigate this process. You’ll also need to have your own financing or purchase money for the short sale purchase. In addition, a short sale lawyer can also facilitate the process, so that everything else is in order, from completing a title search to overseeing the transfer of title, etc. as the contract requires. Everything needs to be in place at the right time for this kind of transaction to go through successfully. Let Legal Counsel, PA, a short sale and debt settlement law firm assist you with this process. . Have questions? We have answers. Contract Legal Counsel, P.A. today at 407.982.4321.