No one ever purchases a home with the thought of foreclosure in their future. Sadly, in today’s market, foreclosures are increasingly common. Between the ever rising cost of living and the Adjustable Rate Mortgages resetting, many people are finding themselves faced with more debt than they can handle. With foreclosure rates and the number of bank-owned properties going up, the market value of houses for sale keeps going down. That means people are facing the situation of selling their home for less than what they still owe on the property.
This is where we can help. We can negotiate the terms of a Short Sale with the lender, removing the burden of this stressful process from our clients’ shoulders. Often, the fee for the short sale legal work can be included on the settlement statement (the H.U.D. statement), which means that the lender essentially pays for those legal fees. Our services include:
- drafting any necessary documents, explaining them to the client,
- negotiating the terms of the short sale with the lender, and
- providing our Concierge Closing Services for Sellers.
Want more information about Short Sales? Check out this short video: