Short Sales in Orange County

There are many various circumstances under which you and your family may be suffering from various financial hardships. In many cases, financial hardships can become so severe that foreclosure is threatened against you. It is important to understand your various options in this situation, and that you have skilled representation on your side that can help you to effectively pursue the results that you need in your case.

Understanding Short Sales

Having a home that is upside down on the real estate market can be very stressful. If you owe more on your home than it is worth, then you may be experiencing considerable worry and distress over your financial future and security. When you received a notice that your home lender is going to foreclose on your mortgage, it may have been the last straw, but it is important to know that there are options available to you and your family.

If you have heard how foreclosure affects credit and want to take proactive steps to avoid this outcome, you should speak with a knowledgeable Orange County foreclosure lawyer who can advise you about the possibility of making a short sale on your home.

In a short sale, you place your home on the market at a price that will attract a buyer, even though this price may fall well below the amount that you owe. It requires you to convince your lender to forgive the difference between the sale price and the loan amount, which is known as the deficiency.

If you aren't able to gain this cooperation, you will have to look into other foreclosure alternatives or work with your attorney on fighting foreclosure. However, it is often possible to persuade the loss mitigation department of the bank to approve your request, because they would prefer to recover some of the loan and with minimal complication, rather than lose large sums in administrative fees and delays.

A Santa Ana Foreclosure Lawyer on Your Side

Short sales can be complicated and it can often be difficult to secure the cooperation of the lender, but at 1st California Law, we can help you navigate the entire process with ease. With the right representation you may be able to convince your loan holder to forgive the difference in what you owe, and to let you continue your life. There are serious advantages to this option, and it is important that you have representation that can effectively explain them.

Our goal is to take the burden and worry off your plate and to fully meet your expectations. You will be working directly with an attorney from our firm, and we will arrange to communicate with you however you prefer, whether through text messages, email or in person.