Short Sales and Bankruptcy
Download Our Short Sale Negotiation Packet by clicking here
Price Law Group offers experienced legal representation to homeowners and Realtors® / brokers in California who are faced with the legally complex short sale process. It only takes one phone call to have a skilled short sale lawyer from our firm by your side. We can accelerate the process while protecting the homeowner's interests in order to achieve the outcome you are hoping for. Having our powerful team by your side can help ensure that any issues are immediately addressed and the sale moves forward according to plan.
It is important to note that DRE, MLS boards and National Brokerages advise agents to include attorneys in their short sale transactions due to the many legal implications involved. We provide legal counsel to seller's to ensure their questions are answered and they've explored all available options.
What is a short sale?
When a homeowner and lender(s) enter into an agreement to sell the home for less than the amount owed the lender(s), it is termed a "short sale." The money that is made from the sale is turned over to the lender(s). Depending upon the Short Sale agreement, the debt that the homeowner owed on the house is considered to be fully satisfied. At times, however, the homeowner may still be responsible for a portion of the deficiency. We know the different options that are available to you, should a deficiency have to be resolved.
At our firm, we have assisted over 100,000 families who were in financial trouble. We also offer our legal counsel and negotiation services to Realtors® and Brokers.
Facts Regarding Short Sales
Short sales have become increasingly popular in recent years, resulting from a declining economy and housing market.
Sometimes, a short sale can be the best solution for an individual.
The impact of Short Sale on your credit score will be determined on how far behind the homeowner is on their mortgage payments. (Foreclosure averages anywhere between 200-400 point on your credit)
The Seller(s) may become eligible for an FHA home loan less that 2 years after Short Sale versus the minimum of 3 after Foreclosure.
The Homeowner may remain in the property until the completion of Short Sale, often buying valuable time to save money.
Deficiencies may be negotiated down to prevent the Homeowner from having to pay.
In our firm, we treat each person as an individual, with a specific financial situation and personal financial goals. There is no "one solution fits all" when it comes to financial troubles. That is why we offer the full extent of our experience and knowledge when it comes to lending you a hand.
Contact Price Law group when you are having difficulties managing your mortgage payments and seek sound financial advice.
Call us @ (800) 884-6000 to discuss Short Sale on your or your Seller's property.
REALTORS®, feel free to download our Short Sale Packet* here.
*Required to begin work on a listing
Request a packet or send a question to ShortSales@pricelawgroup.com