Clermont Short Sale Attorney
Because of the tough economic times we live in, it is becoming more and more common to find ourselves in a position in which we cannot make our mortgage payments. While our first thought usually lands on foreclosure, a short sale can be a much better option for both the creditor and the borrower. A short sale occurs when a home is sold for less than what is currently owed on it.
Both parties must agree to a short sale, which is where it becomes vital to have adequate legal counsel on your side. The short sale attorneys at Boyette, Cummins, and Nailos, PLLC are proud to provide the Clermont community with the quality, compassionate legal counsel you need and deserve.
Clermont Short Sale Lawyer
Short sales are much more favorable than foreclosures for mortgage companies as this leaves them with only a moderate loss, rather than the hefty losses they incur when a person forecloses. For the borrower, a short sale is also better as it helps them to avoid having a foreclosure on their credit report for ten years. It should be noted, though, that this process does not necessarily release you from the remaining debt.
Short sales can be tricky. Both parties must consent to the sale of the house. The lender can unfortunately leverage a lot of control over the situation, if they choose. They can decide to take back their agreement to a short sale and continue the mortgage as originally contracted or they could disapprove of the sale price if they think it’s too low. It is important to have legal representation during the negotiations with the lender to ensure you get the best possible outcome.
Going through a short sale is a way for you to move on from financial hardship with limited financial repercussions. We at BCN Law Firm want to help you figure out what your options are and which is best for you.
Get in Touch with Us
If a short sale seems like an option you’d like to pursue, give us a call at (855) LAW-2020 or fill out the contact form online. We’ll sit down with you for a free one-on-one consultation to see how we can best serve you.