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should not be based solely on advertisements. Before you decide, ask us to send you free written information about our qualifications.
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Attorneys and Debt Counselors
3019 West Azeele St. Tampa, FL 33609
Tel. (813) 876-3328
Fax (813) 876-3306
3019 West Azeele St. Tampa, FL 33609
Tel. (813) 876-3328
Fax (813) 876-3306
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STOP FORECLOSURE
FORECLOSURE HELP
MORTGAGE MODIFICATION
WHAT IS A SHORT SALE?
REQUEST ADDITIONAL INFO
FORECLOSURE HELP
MORTGAGE MODIFICATION
WHAT IS A SHORT SALE?
REQUEST ADDITIONAL INFO
Help with Short Sales from Tampa lawyers, Attorneys and Debt Counselors.
For homeowners who can no longer afford to pay their monthly mortgage payments, there are alternatives to
bankruptcy or foreclosure . One of those options is called a "short sale."
In the simplest of terms a short sale means that the lender is discounting the total loan and accepting less than the
amount owed to avoid foreclosure or bankruptcy. For example, let’s say you have a mortgage amount of $ 175,000
and you are no longer able to make your monthly payments and are facing a possible foreclosure. A buyer offers the
lender a signed contract for $120,000, which is accepted as full payment for the loan. This is a short sale.
bankruptcy or foreclosure . One of those options is called a "short sale."
In the simplest of terms a short sale means that the lender is discounting the total loan and accepting less than the
amount owed to avoid foreclosure or bankruptcy. For example, let’s say you have a mortgage amount of $ 175,000
and you are no longer able to make your monthly payments and are facing a possible foreclosure. A buyer offers the
lender a signed contract for $120,000, which is accepted as full payment for the loan. This is a short sale.
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Why would a bank accept a Short Sale?
One of the reasons banks are allowing people to short sale their homes is because of programs like the Making
Homes Affordable program/ Home Affordable Foreclosures Alternative or HAFA. Created by the government helps
homeowners sell their undervalued homes waiving all deficiencies and in some cases even provides relocation
assistance funds to help them move.
Another reason a bank or mortgage company may accept a short sale is that they do not like excess inventory and
bad loans on their books; therefore, if they see an opportunity where they can sell the property without a huge loss,
they will most likely do it.
If you are facing foreclosure a short sale may be an option for you. You could possibly avoid the foreclosure process
and in a lot of cases the lender will forgive a portion of your current loan. Although this sounds like an easy way out,
there is a catch. Short Sales have a high probability of damaging your credit and the lender may not agree to a short
sale or to forgive part of the loan. Most lenders will only entertain the idea of a short sale if you are several payments
behind or if you have gotten a default notice and they will not always forgive the balance of the loan.
Not all sellers nor all homes qualify for short sales. Contact the lawyers from Attorneys and Debt Counselors today
at (813) 876-2238 to find out if a short sale may be a viable option for you.
One of the reasons banks are allowing people to short sale their homes is because of programs like the Making
Homes Affordable program/ Home Affordable Foreclosures Alternative or HAFA. Created by the government helps
homeowners sell their undervalued homes waiving all deficiencies and in some cases even provides relocation
assistance funds to help them move.
Another reason a bank or mortgage company may accept a short sale is that they do not like excess inventory and
bad loans on their books; therefore, if they see an opportunity where they can sell the property without a huge loss,
they will most likely do it.
If you are facing foreclosure a short sale may be an option for you. You could possibly avoid the foreclosure process
and in a lot of cases the lender will forgive a portion of your current loan. Although this sounds like an easy way out,
there is a catch. Short Sales have a high probability of damaging your credit and the lender may not agree to a short
sale or to forgive part of the loan. Most lenders will only entertain the idea of a short sale if you are several payments
behind or if you have gotten a default notice and they will not always forgive the balance of the loan.
Not all sellers nor all homes qualify for short sales. Contact the lawyers from Attorneys and Debt Counselors today
at (813) 876-2238 to find out if a short sale may be a viable option for you.
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Ten Facts for Mortgage Debt Forgiveness
If you are a homeowner whose mortgage debt is partly or entirely forgiven during tax years 2007 through 2012, you may be able to
claim special tax relief and exclude the debt forgiven from your income. Click here for 10 facts the IRS wants you to know about
Mortgage Debt Forgiveness.
If you are a homeowner whose mortgage debt is partly or entirely forgiven during tax years 2007 through 2012, you may be able to
claim special tax relief and exclude the debt forgiven from your income. Click here for 10 facts the IRS wants you to know about
Mortgage Debt Forgiveness.
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