Long Island Short Sale Attorney
Foreclosures and Short Sales in Long Island
If your mortgage is in default, you may be able to do a short sale to avoid losing your home to foreclosure. Contact a Long Island foreclosure defense lawyer today to discuss your options. If you are in danger of defaulting on a first or second mortgage, you may want to consider doing a short sale in order to avoid the ramifications of a foreclosure. A short sale, when properly arranged, can allow you to be free of the obligation of the property and walk away without severe financial damage. It is important that any short sale is managed by a skilled legal professional, as you could be left owing the shortfall between the sale price and your original mortgage without ensuring your case is addressed with your best interests as the focus. There are also tax liabilities that you must be made aware of, and how to best manage this aspect of a short sale with your interests and future financial health in mind.
If a lender approves a short sale, you will be able to sell your property for less than the amount you owe on your mortgage. Due to the downturn in the economy and the real estate market, many individuals and families have mortgages that are far higher than the actual current value of their homes. Most lenders prefer a short sale to a foreclosure, as in a foreclosure they are likely to actually gain far less of the original loan amount back in cash.
Our firm is dedicated to helping Long Island and surrounding New York homeowners get the best deal they can out of their short sale. The firm has over 50 years combined experience, and is committed to giving their clients one on one, personal service. At our firm, your case will always be handled by your attorney, never pushed off to a secretary or paralegal. Your attorney will be familiar with the particulars of your case when representing you. Their one on one service is an advantage to any person seeking legal representation and the firm is also large enough to take on bigger, more complex cases .
Contact a Long Island short sale attorney today to discuss the options for a short sale and what you can do to avoid foreclosure.