St. Augustine Short Sale Lawyer
In Florida, short sales are a valid foreclosure defense option for homeowners who are no longer able to make payments on their homes. When saving your home is no longer an option, you can list the home on the market for its present value. If the mortgage balance exceeds the sale price, the homeowner will be unable to pay the bank at closing, which classifies the transaction as a “short sale.” The bank and lien holder will need to agree to this action. Our St. Augustine short sale lawyers have extensive experience with this foreclosure defense option.
Banks often favor having listing a house for a short sale rather than continuing with a foreclosure because they typically make more money through the short sale process. Another benefit for the banks and lien holders is that the property and neighborhood retain a higher value than when the property is lost in foreclosure. In addition, the bank is able to avoid the process of a resell. As a homeowner, you can also benefit from a short sale over a foreclosure. Homeowners are able to maintain better credit levels when avoiding foreclosure and can generally purchase another primary property after a two-year period.
Legal Guidance from the Albaugh Law Firm
The short sale process is not easy. Many individuals will require experienced legal guidance to maximize their chances of having their homes sold in short sales. The process is long and complex. It is important to hire an experienced Jacksonville bankruptcy lawyer from our firm if you want to take action and get the short sale approved. We can help you apply and avoid risks that can result in further setbacks. To avoid foreclosure, we encourage you to contact our firm at once. Request a free case evaluation at once for the legal guidance you need.