Short Sale Attorneys in Southbury
Freeing You from an Overwhelming Mortgage
Are you having trouble making your mortgage payments? If you’re facing serious financial problems, selling your home may provide you with the debt relief you need to lower your expenses. However, this process may not go as planned, especially when you owe more on your mortgages or liens than your home may be worth. In these situations, a short sale may be the right financial solution for you.
What Is A Short Sale?
A short sale is a process whereby your lender decides whether to let you sell your house for less than what you owe to them. There are many factors that go into the bank's decision, including demonstrating your financial hardship and securing a bona fide proper offer of sale. The goal is to get the lender to waive the deficiency (the difference between what the house sells for and what you owe on your mortgage). We can provide aggressive representation for your short sale, positioning the sale in the best light possible to your lender.
How Does a Short Sale Work?
In considering whether to approve the sale or not, your lender will require you to submit a lot of paperwork demonstrating your financial hardship, as well as other documents concerning your home, and the real estate market evidencing a proper offer for your home. At LaRese Law, we have a dedicated short sale team, including an in-house realtor, that works diligently to get your lender to let you out of the mortgage under the most favorable terms possible.
What Are the Benefits of a Short Sale?
Short sales can be a solution to unmanageable mortgage debt. While selling a home in such circumstances may not have been your initial goal, advantages may include:
- Staying in your home until the short sale is completed
- Deficiency forgiveness from the bank
- Avoiding a foreclosure on your credit report, which would present challenges when applying for a mortgage or buying a home in the future
Work with a Lawyer You Can Trust
If you believe a short sale may benefit you, LaRese Law is here to assist. We can help you assess all options at your disposal and determine which path will most effectively address unmanageable or unwanted mortgage debt. We provide fully personalized attention and well-informed legal help for people seeking relief from financial crises.
Are you out of state, or even out of the country? Do not let distance stop you from finding a financial solution. We assist clients from all around the world, and we can work remotely via phone, email, fax, and Skype.
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