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Legal Counsel, P.A. employs a short sale lawyer in Orlando, Florida who can help you avoid foreclosure if you are unable to make mortgage payments and if the value of your home is worth less than the amount of money you owe on your mortgage. A short sale is usually a last resort for homeowners, and is generally used when other options, such as loan modification, bankruptcy, or the sale of the home on the real estate market are not an option. Short sales usually occur during a recession when the value of a home decreases, putting some homeowners underwater. Is a short sale on your home the right option for you? Legal Counsel, P.A. employs a short sale lawyer in Orlando, Florida who may be able to help you negotiate the short sale process, or help you find better alternatives to a short sale, including individual debt settlement.
Short Sale or Put My Home on the Market?
If you have fallen behind on mortgage payments or if you anticipate that you will fall behind on mortgage payments, you may have the option of selling your home to avoid losing your home to foreclosure. Whether you sell your home in the traditional way or sell your home on a short sale will depend on the value of your home and how much you owe on your mortgage.
When should you sell and when should you use a short sell?
A short sale or sale of your home may not be the only option you have to prevent foreclosure. You might be able to work out a loan modification with your lender or ask your lender for other options. Legal Counsel, P.A. employs a short sale lawyer in Orlando, Florida who will review your situation and help you decide whether a short sale if the best option for you. Have questions? We have answers. Contact Legal Counsel, P.A. today at 407-982-4321.
The Short Sale Process in Florida: Explained
How does a short sale work? Generally, before you put your home on the market, you will talk to your lender about your options for preventing foreclosure or options for loan modification. If a short sale is the best option, you will put your home on the market, like you would for any home sale. However, before you can accept an offer for your home, your lender must approve the offer. After all, the amount of the sale will be the amount of money the lender will receive to pay off the mortgage. Generally, the bank will do a cost-benefit analysis. Can the bank make more money by foreclosing or by accepting the best short sale offer? Before the bank accepts the short sale offer, the bank may also require you to submit documents showing a financial hardship and submit a letter explaining your situation. The bank may also appraise the home to ensure that the offer you received is a fair one.
The process of selling a home in a short sale can be complex. Legal Counsel, P.A. employs a short sale lawyer in Orlando, Florida will be able to assist you with the paperwork and the process. Contact our firm today to learn more about your options and rights.
Short Sale Versus Foreclosure in Florida
If you cannot pay your mortgage, you may be wondering what is best for your situation; a short sale or a mortgage. Every situation differs and the following information is not meant to replace the advice of a short sale lawyer in Orlando, Florida at Legal Counsel, P.A. Our law short sale lawyer can take the time to understand your unique situation and help you find the best solution for your needs. What are some of the benefits of a short sale over foreclosure?
These are just some of the benefits of going with a short sale rather than letting the bank foreclose on your home. Legal Counsel, P.A. employs a short sale lawyer in Orlando, Florida who can review your situation and help you navigate the short sale process. That said, short sales are not for everyone. Contact our law firm today to understand your options and choose the best option available to you to save your home or to prevent foreclosure. Have questions? We have answers. Contact Legal Counsel, P.A. today at 407-982-4321.