Short Sale and Foreclosure Options – KEL Attorneys

Matthew Shane Englett's Foreclosures Legal Blogs

Licensed for 19 years

Attorney in Orlando, FL

Mortgage Debt Relief Attorneys

In recent years many real estate agents and
mortgage companies have encouraged distressed homeowners, to opt for a short
sale rather than allow the bank to foreclose on the property.  In the case of a short sale, the homeowner
sells their home to a buyer for less than the balance of the existing
mortgage.  The mortgage lender must first
agree to take less for the house rather than foreclose, however.  If this is the case, the real estate agent
and the bank each benefit from the short sale since the home could’ve taken
years to sell in the current real estate market.  The seller however, loses the home and any
possible future equity.  

The Best Option for Homeowners in Financial
Distress

It is important to
carefully weigh your decision about agreeing to a short sale.  Sometimes, as a condition of the sale you are
required to agree to pay the mortgage holder the difference between the actual
sale price of the property and the remaining balance on the mortgage.  There may also be tax consequences at the end
of the year on any monies the bank vows to forgive.

Get The Facts from a Trusted Legal Professional

Before you decide whether to allow your mortgage
lender to foreclose on your home, or agree to a short sale, you should always
consult an attorney who knows foreclosure defense and can advise you on
strategic options. KEL Attorneys are
experienced in all aspects of real estate, foreclosure, bankruptcy, and tax
law.  Each of these areas of practice may
enter into the decision making process for you as a distressed homeowner.  That’s why it’s critical to have an attorney
who can present the “big picture” involving your situation. 

Our attorneys will help you make the best
decision for you and your family concerning your home.  We will explore every legal strategy with you
and work with lenders, real estate professionals and the courts to bring about
the most successful outcome possible. 
Whether you choose to enter into the short sale of your home,
foreclosure, or another legal option to retain your residence, you deserve to
get the best advice and representation available.

If you’re facing possible foreclosure, contact a
KEL representative now to discuss your situation, (855) 215-2280 or go to: www.KELattorneys.com

You can
also contact KEL Attorneys via Twitter.

We offer debt relief solutions in
compliance with U.S Bankruptcy Code.

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