Lenders accept a short sale
While most lenders will not be thrilled at the prospect of a short sale they are acutely aware that a foreclosure is usually a far more time consuming and costly option. In a real estate market where housing values are going down it is in the best interests of the lender to liquidate their problem loans as quickly as possible.
The Mortgage Relief Act
President Bush will include the Mortgage Relief Act in his initiative to assist homeowners damaged by troubled mortgages. The Mortgage Relief Act, would change current law that forces individuals to pay an income tax when they have had a part of their mortgage loan forgiven or have been forced to foreclose because of their inability to pay their mortgage. The Mortgage Relief Act will relieve families of a tax burden when their lender forgives part of the mortgage on a principal residence.
Short Sale Management for Attorneys
As attorneys, you
most likely have many people
calling or coming to your office looking for solutions to their foreclosure problems. Since attorneys generally have quite a bit of credibility when it comes to negotiation matters, chances are you will meet several distressed homeowners willing to pay you to help them. You may even have dozens or hundreds coming to you already as you read this information on our site. If this is not your expertise and you are feeling lost or overwhelmed, don’t dismay! We can help!
We can negotiate their mortgage debt down so that the property can be sold. If the property isn’t listed, we can take care of that as well. All you’ll need to do is prep for the closing and we’ll do the rest. Our wonderful group of team members have worked with many attorneys and only collect their fee upon the successful closing of a property. We can provide any and all paperwork you may request, from short sale approval letters to signed agreements on how we are to be paid. The bottom line…we are your resource for short sales! Once we have collected all the necessary documents from the homeowner, we will start your file. For your convenience, you will be able to view the status of your short sale on this site as we work through the negotiations.
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