Short Sale Negotiation

Short Sale Negotiation

Attempting a short sale is a complicated process that should be done only by an experienced professional. A short sale that has been negotiated improperly may result in even greater long term problems than an underwater property owner was facing before the short sale. At The Edwards Law Firm, PL, we will work to negotiate a short sale approval, which includes a waiver of the deficiency, to enable you to move forward toward a brighter future.

The most important part of a short sale is the negotiations that take place with the lender relating to the terms of the lender's acceptance of the short sale. Most short sale negotiations that are conducted by realtors or other non-lawyers result in only a release of the property from the mortgage lien to allow its sale. At The Edwards Law Firm, PL, we go that extra step to negotiate a waiver of the deficiency to assure that the lender or a collection company will not pursue you for more money to satisfy the debt. Although your real estate problems may make you feel as though there is no way out, there are legal tools that can be utilized to improve your situation and assist you with closing this chapter of your life.

Second Mortgage Short Sale Negotiation

Second mortgages were granted in large numbers during the real estate boom. Many property owners took out second mortgages to purchase an investment property, to obtain 100 percent financing on a home purchase or to pay off other debt. Second Mortgages may have provided relief during difficult financial times for some homeowners in the past; however, dealing with a second mortgage can become extremely burdensome. Unable to pay one mortgage, let alone both the first and second mortgage, it can be confusing for the homeowner to know how to best resolve a threat of foreclosure. You deserve legal representation that could help you finalize the matter and move forward with your life unburdened.

Often a second mortgage lender will be more difficult to negotiate with because they will also obtain little to nothing in the short sale. When the short sale process is handled by a qualified attorney, it could enable you to be freed from both the first and second mortgage obligations. We are here to assist you and answer any questions you may have about the short sale process. The issue of your second mortgage will take skillful negotiations to ensure that you do not owe a deficiency on either the first or second mortgage after the short sale is complete.

Contact Attorney Sheryl A. Edwards to better understand your short sale situation and the federal regulations of MARS.

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