Short Sales Attorney in Orange County

The Advantages of a Short Sale

Over the last few years, the economy has not been favorable toward individuals who are experiencing trouble maintaining mortgage payments. Sudden financial difficulties, such as the loss of a job or a costly injury or illness, have left many at a severe disadvantage.

In some cases, individuals are faced with the very realistic possibility that mortgage lenders will foreclose on their home. In such dire circumstances, it is very important to know that there are a number of options available to minimize the damage done in an eminent foreclosure.

When faced with the overwhelming reality of a foreclosure, it is easy to feel that all is lost. It may be reassuring to you to know that there are options for foreclosure defense. One of the most common options includes arranging a short sale which can allow you to get out from under a mortgage that no longer makes financial sense.

The short sale of your home involves making an agreement with your mortgage lender to sell your home at a price that will guarantee its sale. In exchange, the debt owed to your lender will be satisfied. Selling your home in a short sale could be your best option when the property is mortgaged far beyond its current market value.

A deed in lieu of foreclosure is another option that should be explored. A borrower can use a deed in lieu of foreclosure if their home is threatened with foreclosure. If you can no longer afford to pay the mortgage on your home and you do not foresee being able to do so in the future, it may be better to shed your home to avoid foreclosure. The primary benefit to this process is that it will immediately release you of at least most of the personal debt related to your mortgage. This may allow you to focus on rebuilding your financial stability.

Legal Assistance with a Short Sale

At 1st California Law, our firm is proud to stand by our clients through these difficult times. We pride ourselves on providing our clients with effective, professional legal representation at an affordable cost. We offer free case evaluations and appointments, even in the evening and on weekends. Our dedication to our clients is the key to successfully navigating the complex negotiations involved in a short sale, and ensuring that our clients are protected from owing the shortfall, among other possible dangers.