Cherry Hill Short Sale and Home Foreclosure Lawyer
Even if you do not want to keep your house, you want to avoid foreclosure. A foreclosure can do serious damage to your credit and impact your ability to buy a home in the future. One of the most common methods of avoiding foreclosure is a short sale, which can be done within the context of a bankruptcy or even outside of a bankruptcy.
I am attorney Joel R. Spivack. I have more than 25 years of experience on my side, which means I understand the strengths and weaknesses of all available options, including short sales. I will educate you about those strengths and weaknesses, working with you to decide whether a short sale makes sense in your case.
What Is a Short Sale?
One of the biggest problems leading to debt and foreclosure is the decreasing value of homes. Many homeowners are stuck with mortgages that are higher than the actual value of their houses. If a house is sold for the actual value, the homeowner may still be held accountable for the difference between that value and the amount of the mortgage, unless a short sale is agreed on. A short sale is when the mortgage company lets the house be sold at the current value to satisfy the outstanding mortgage debt.
Lenders Want to Avoid Foreclosure Too
Why would a lender allow a short sale? Because it is in their best interest. Foreclosing on a house is expensive, and then they are left with having to sell the foreclosed property. That is work that they would prefer to avoid, and a short sale allows them to avoid it. However, that does not mean that they will agree to it outright. My role is to negotiate with them to ensure that you get through the process without having to incur any unnecessary costs or stress.
Schedule a Free Initial Consultation with a Cherry Hill Short Sale Lawyer
My office is open weekdays from 8 a.m. to 5 p.m. and offers free parking. Contact me today at 856-488-1200 or toll free at 866-488-2196 for a free initial consultation with a Cherry Hill short sale attorney. You can also contact me by e-mail.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.