Could A Short Sale Be Right For Your Situation?

If your house is worth less than you owe and you cannot afford your mortgage payments, you may be worried about the prospect of foreclosure and how having that on your credit report will affect your future. Fortunately, foreclosure may not be your only option.

By selling your home in a short sale, a lender may agree to take a small loss on the mortgage to avoid a lengthy and expensive foreclosure proceeding. If you can complete the sale, you will save money and avoid having a foreclosure on your credit report. An experienced bankruptcy attorney can help you determine if a short sale is a viable option for your situation and can negotiate with your lender to arrive at an amicable solution.

Get Experienced Advice About Short Sales

At Joshua Z. Goldblum, Attorney at Law, I have represented people in bankruptcy proceedings and short sales for more than 30 years and I recognize the benefits that these sales have for all parties involved. Call my Bucks County firm for a free initial consultation at 215-322-2745.

In addition to a short sale, there are other alternatives to foreclosure, including loan modifications. Learn more about these options and what is best for your specific situation.

Benefits Of Short Sales For Sellers And Lenders

There are many reasons why short sales are advantageous to sellers and lenders. For sellers, it gives them the ability to get out of the overwhelming debt and liability of a mortgage without having to go through the foreclosure process.

Lenders, on the other hand, do not want to manage and own property or complete the foreclosure process, all of which costs them substantial money. Even though lenders will lose money on a short sale, in most cases, it is far less than would be lost through foreclosure. It is possible to negotiate a timely short sale that will satisfy all parties to a mortgage, without damaging the credit rating of the person in debt.

Short sales can be complicated, however, and it is important to hire an experienced real estate lawyer to oversee the process. I can help you understand the process and all the steps that must be taken to initiate and complete a short sale, while protecting your rights.

Learn More From Josh Goldblum

Foreclosure can be a daunting experience, but for many homeowners who are unable to make monthly mortgage payments, there are other options. Learn more about short sales, loan modifications, avoiding foreclosure and Chapter 7 or Chapter 13 bankruptcy by talking with me, Josh Goldblum, at my Feasterville, Pennsylvania, office. I serve people throughout Bucks County and the Philadelphia metropolitan area as well as the surrounding counties.

Call my office in Feasterville to schedule a free initial consultation at 215-322-2745. You can also email my firm to make an appointment or tell me about your mortgage issue.

My firm is a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.