Are you ready to take advantage of your local short sale program?
Call Boss Law today at (844) 818-0277 to schedule a free, no-obligation debt relief consultation with one of
our knowledgeable short sale attorneys in Florida.
Why Some Lenders Prefer Short Sales
If you have fallen behind on your mortgage, you may be wondering what options
you have left. When you contact a
debt relief lawyer at Boss Law, we can help you determine if a short sale is right
for you. A short sale, also known as a pre-foreclosure sale, would allow
your lender to recover a substantial portion of the money that you currently
owe, while also excusing you from contractual obligations.
Foreclosures can be lengthy and expensive, which is why many lenders are willing to
accept a short sale offer. Although they may not be able to recover the
full amount that you owe, short sales typically cost 15 to 20 percent
less than foreclosures. Recent reports also show that the average foreclosure
in Florida takes three years to complete. For this reason, your lender
may even prefer a short sale.
Navigating the Short Sale Process in Florida
Whether you are unable to make mortgage payments or you owe more than your
home is worth, the debt relief attorneys at Boss Law are here to help.
The sooner you act, the more options you will have, which is why you should
contact a lawyer as soon as you stop making payments. We can appraise
your property, gather evidence to support your case, submit a proposal,
and negotiate the sale.
Working with a lawyer is critical. Not only will it help you resolve your
case quicker and more effectively, but it will ensure that your rights
are protected throughout the process. We can take precautions shield you
from deficiency judgments that may lead to additional debts, as well as
secure notices to prove that the loan was satisfied by the short sale.
This is critical to protecting your future.
Understanding the Dos & Don’ts of Short Sales
To ensure a smooth short sale process, it is important to take a few things
into consideration. First, remember that there are various closing costs—including
attorney’s fees, property taxes, and notary fees. If you choose
to forego a real estate agent, that’s one less cost you have to
worry about. You should also know that a short sale may come with tax
implications, which is why you should hire a lawyer.
How to Get a Short Sale Approved
Unfortunately, getting a short sale approved isn’t always easy. Every
lender is different, each with different criteria in place to determine
eligibility. In some cases, a lender may out-right refuse unless you are
in default. Typically, most lenders will want you to prove that a) you
are facing financial hardship, b) your home is worth less than you owe,
and c) you have found a buyer for the property. Boss Law is experienced
in negotiating with lenders, so don’t wait to find out how we can
help with your short sale in Florida.