Relief Through A Short Sale
Many people who realized the dream of owning a home are now dealing with the effects of the housing crash. Many are finding themselves with the burden of a mortgage that exceeds the market value of the home. In troubled financial times, homeowners are left with few economically feasible options for selling their homes.
It may be time to explore a short sale as a way to sell your home, forgive the remainder of your mortgage debt and regain financial footing. To speak to a lawyer about your options, contact the law firm of Jeffrey M. Rosenblum, P.C., which has offices in Westchester, Nassau and Suffolk County, as well as Brooklyn and London, UK.
What Happens In A Short Sale?
A short sale is a home sale where the proceeds are less than the balance owed on one or more mortgages. The main benefit is reducing the amount of principal on the house down to the alleged market value.
The process of administering a short sale requires negotiation with the lender/bank. If a short sale is right for you, our attorneys will review your financial situation and guide you through the short sale process. Once we have an understanding of your objectives, we will effectively communicate with your lender why a short sale is mutually beneficial.
We offer a free initial consultation where we can discuss your real estate options, which may include a short sale, mortgage workout, deed in lieu of foreclosure, lien stripping or loan modification.