Trusted New York Debt Relief Lawyer - (888) 301-0584
If you are faced with mortgage problems, a short sale may be able to help
you avoid foreclosure. A short sale is a negotiated agreement between
the homeowner and the lender to protect the homeowner from losing their
home to foreclosure. Often, the property is transferred to a buyer for
a price that is less than the mortgage amount owed by the seller of the
property. A short sale can be used to avoid or resolve an unpaid mortgage,
an unaffordable home, or foreclosure proceedings. An effective short sale
provides the homeowner with permanent financial relief without negative
A short sale can be complicated, and an experienced debt relief attorney
can help you ensure that your short sale is as effective as possible.
At the Law Office of Simon Goldenberg, PLLC, we are dedicated to helping
our clients escape the burden of debt.
Contact our New York
debt relief attorneys to learn how we can help.
Short Sales & Debt Relief
If the lender and any parties with a lien on the property agree, a short
sale can be used to earn a large portion of the debt that is owed on the
property. A short sale will rarely net the entire amount of the debt owed
or the full value of the property, but the proceeds of the sale can be
used to pay back part of the debt and prevent foreclosure.
Because short sales require the consent of multiple parties, they can be
exceedingly difficult to accomplish. Rarely do banks or debt companies
approve a short sale before a buyer is found, so it can be difficult to
find a buyer and receive consent. In the worst case scenario, the homeowner
will be left without their home and still responsible for the debt of
their property. Because this is a very real risk, it is important to ensure
that you seek the assistance of a debt relief lawyer who has handled short sales.
For a short sale to provide a real financial solution for a homeowner, it must:
- Leave the seller completely forgiven of the shortfall money in writing
before the sale is completed.
- Leave the seller without other overwhelming debts, such as medical bills,
taxes, or credit card debt.
- Not result in taxable gain to the seller as a result of the debt cancellation.
Speak To a Debt Relief Attorney Today - (888) 301-0584
If you are considering a short sale to free yourself of property-related
debt, consult our New York debt relief lawyer. At the
Law Office of Simon Goldenberg, PLLC, our caring team is ready to help you achieve a better tomorrow. We can
help you protect yourself from the burden of foreclosure.
Contact our offices today. Call (888) 301-0584 to request a