Avoid Naples Foreclosure Litigation with a Short Sale
Selling Your Home for Less than What Is Owed on Your Mortgage
One of the methods being used these days to avoid foreclosure is a short sale. A short sale presents the homeowner, the lender, and the prospective buyer with an outstanding opportunity to mitigate their damages.
However, the short sale process can be full of misunderstandings and delay. The Law Office of Kevin F. Jursinski helps you avoid the frustration of a short sale by using basic fundamental information and a well thought out approach. Contact our firm to get Naples foreclosure help.
Short Sale Assistance from Our Foreclosure Lawyers in Naples
What is a short sale?
A short sale is the sale of a home for less than the amount required to pay off the balance of your mortgage loan and any closing expenses. A short sale ends with one of three results:
- The lender releases its mortgage and releases the borrower
- The lender releases its mortgage and demands payment of the different from the homeowner
- The lender releases its mortgage and obtains a negotiated amount from the homeowner for the resulting deficiency amount, either in cash, a promissory note, or a combination of both
Advantages and disadvantages of a short sale
There are advantages and disadvantages to a short sale. Our firm helps you sort through those advantages and disadvantages and decide whether a short sale is the right option for you.
The advantage of a short sale is that the lender has released your mortgage. Also, a short sale will damage your credit, but not as badly if there is a foreclosure. The disadvantage is that you walk away from your home without a penny, thus making it difficult to find another place to live.
A short sale may be the right choice for you to avoid foreclosure. Talk to our attorneys about your short sale.
