Short Sale Lawyer
Helping Resolve Mortgage Debt Throughout St. Petersburg, FL
If you are unable to continue making mortgage payments, or you have already
fallen behind, it would be wise to discuss your options with a St. Petersburg
debt relief attorney at Boss Law. Mortgage debts are financial and legal
issues, which is why you should hire a reliable lawyer who has experience
in both areas.
At Boss Law, we have the knowledge and resources necessary to fight for
your financial stability. We have been helping homeowners throughout Florida
for more than a decade, working with lenders and negotiating favorable
settlements on their behalf. If you’re facing insurmountable mortgage
debt, we want to help you, too.
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 % 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, our 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 can help to protect your rights
throughout the process. We can take precautions, shield you from deficiency
judgments that may lead to additional debts, and secure notices to prove
that the loan was satisfied by the short sale. This is critical to protecting
your future- and we’re here to provide you with help through each
step of the process.
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 Florida short sale.
Ready to get started?
Contact Boss Law to get in touch with our St. Petersburg short sale attorneys.