Life has a way of throwing curve balls that upset our carefully laid plans. Remember when you had that great job and purchased that amazing home? But now, despite your hard work and efforts, the economy has taken a down-turn, a family member has suffered a serious illness, or you and your spouse are divorcing. You can no longer afford to make the mortgage payments on the house. A consultation with a short sale attorney in Brandon will give you the chance to discuss your options which may include a short sale.
A short sale simply means that the home will be sold for less than the amount due on the mortgage. While the definition might be simple, the process can get more complex. Mortgage lenders are in the business to make money so unless you are willing and able to bring money in the amount of the difference between the selling price and the mortgage, the lender must be on board with the short sale. A short sale attorney in Brandon can assist in negotiating terms that both the lender and the property owner can accept as well as assist the property owner during the sale to be sure that he or she understands exactly what the terms and conditions are and how they apply.
Individuals can successfully negotiate on their own with the bank for a short sale. However, the process can be long, frustrating, and end with the homeowner owing all or part of the deficiency between the mortgage amount and the sale price, as well as being responsible for fees and costs that they were unaware of. A short sale attorney in Brandon will handle the dialog with the lender and attempt to minimize negative impacts to the homeowner.
Should you find yourself in a situation where continuing to pay your mortgage is no longer an option, contact Westchase Law, your short sale attorney in Brandon, to discuss your options and see how we can help work out a solution.