Miami Short Sales Lawyer
Many sellers and investors in today’s real estate market hear the term short sale but do not understand what a short sale is. A short sale occurs when someone owes more on their mortgage than the property is worth. That is they are what has been classified as “underwater on your mortgage”. These property owners are either no longer able to afford the mortgage payments or no longer wish to keep the property and make payments on the mortgage. This is called a “strategic default”. A short sale application is then made to the lender (same a loan modification is made) wherein the mortgage lender agrees to accept a dollar amount less than what is owed on the mortgage. AND agrees to write off or forgive the remainder. PLUS, you may be eligible to get up to $10,000 from your lender to walk away, which is yours to keep and to help with moving expenses. This is called the HAFA Relocation Assistance.
In certain situations, short sales are a viable solution that can help avoid foreclosure. Although the amount of the loan does not change, the bank is now willing to accept less than the balance owed in return for allowing the home to be sold. It takes an experienced attorney to analyze whether a short sale is in the best interest for a homeowner and to steer through the complex procedures successfully in order for a bank to accept a short sale petition.
At The Law Offices of Jacqueline A. Salcines, PA we can help you explore your options if you can no longer afford the payments on your mortgage. We can help you fight foreclosure or stop a foreclosure by pursuing a short sale, based on what will put you on a path to a better emotional and financial future. We will carefully listen to your concerns and explain all of your options fully, so you can make an informed decision.
If you need help, start seeking answers from experienced Miami short sale attorneys today. Understand your rights, and contact us at 305-669-5280 to schedule a free consultation.
In order to have a short sale accepted, we will help you prove the following:
- You are no longer able to make the mortgage payments
- You must have a hardship such as an illness in the family, a job loss or other serious situation that affects your finances
- You must prove the current value of the home is substantially less that the balance owed
- The bank or lender agrees to accept a sale price that is less than what you owe
- You must have a qualified buyer offer to purchase the property
- The bank or lender must accept the buyer’s offer
There are tax implications and the possibility of a deficiency balance to a lender, which we can help you understand, negotiate and handle. Our personal, detailed service has helped thousands of people from all walks of life and income bracket and now we are ready to help you.
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Contact our office today at 305-669-5280 to schedule an appointment for a free evaluation and put yourself on a path to a better financial tomorrow. We also assist Spanish-speaking clients.
Contact us today. No office visit is required and the phone consultation is 100% free of charge. Call and speak to attorney Jacqueline A. Salcines, Esq. Today!
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Jacqueline A. Salcines