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Short Sale Attorney in New York

What is a Short Sale?

A short sale is the sale of real estate property in circumstances where the owner owes more to the lender(s) than the property is worth.  Should a homeowner become unable to meet their monthly mortgage payments, they can seek a short sale with their lender(s) as an alternative to having the property foreclosed on, or to filing for bankruptcy.  The short sale process can have many benefits for people in situations of financial hardship, such as:

  • Less of an impact on the homeowner's credit score (foreclosure may result in 200 to 400 negative points).
  • The seller(s) may be eligible for an FHA loan less than 2 years after short sale, as opposed to 3 years after foreclosure.
  • The homeowner may be able to remain on the property until the completion of the short sale, a valuable option to save money when it's needed most.
  • Any deficiency between the sale amount and the amount of the loan may be negotiated so the homeowner is not liable.

Are you a homeowner, Realtor® or brokers dealing with short sale? There are numerous legal and financial issues involved, increasing the potential for problems or a slow sale process. Recognizing this, DRE, MLS boards and National Brokerages advise agents to include attorneys in their short sale transactions. A New York short sale attorney can provide you with guidance and representation to guide you through the process as swiftly as possible, protecting the interests of the homeowner every step of the way. At Price Law Group, our team of professionals is experienced and ready to go to work for you in properly handling the short sale process to avoid any potential pitfalls and secure the outcome you are hoping for. We offer comprehensive legal counsel to sellers in these matters, making sure all of their options are explored, their rights are protected and their questions are answered.

Legal Help for the Short Sale of Your Home

Price Law Group is dedicated to helping individuals who are struggling to meet their financial obligations, whether it is through the process of bankruptcy, or through debt relief methods such as short sales or loan modifications.  Contact our offices if you are in danger of having your home foreclosed on, and we will sit down with you in order to determine if a short sale is the solution that will allow you to avoid foreclosure.

Contact a New York Short Sale Attorney to talk about your or our seller's property and how we can help. If you are a Realtor®, you can download our Short Sale Packet* here.

*Required to begin work on a listing.

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