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Short Sale Lawyers

If you're facing a foreclosure, or the mortgage balance on your home is well under its market value, you may consider a short sale. A short sale is a process where your lender allows you to sell your property at a loss, and agrees not to pursue a foreclosure. The difference between the sales price and your loan amount is known as a deficiency, and depending on your agreement with your lender, may be forgiven. A short sale usually has negative implications on your credit report, and this is usually less severe than having a foreclosure on your record.

The legal requirements and implications of a short sale depend on your state, which is why many find it valuable to hire an experienced short sale attorney. 

Short Sale Lawyers By State

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Frequently Asked Questions

  • What is a 'short sale'?
    A “short sale” is an option for a homeowner to avoid foreclosure when they can no longer afford the mortgage on the home.   In a short sale, a servicer allows the borrower to … more
  • How long do I have to try to sell my house as a 'short sale'?
    it depends on your lender's requirements and whether you qualify for any special government sponsored programs helping homeowners avoid foreclosure.   For instance, under the … more
  • Can any property be sold as a 'short sale'?
    typically, if there are any junior liens, mortgages or other debts against the property, those must be cleared first before the property  can be sold as a short sale. The servicer can … more
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Legal Articles

  • How To Avoid Foreclosure
    Are you facing foreclosure?  More and more people are finding themselves in the difficult and unfortunate position of anticipating foreclosure of their homes.  However, there may be alternatives to foreclosure.  The options may vary depending upon your situation and you should contact your lender to explore those options sooner rather than later.  The good news is that … more
  • Alternatives to Foreclosure
    It can be very stressful to face a home foreclosure. Homeowners and their families who cannot afford to make their mortgage payments may feel that there is no alternative to letting their mortgage holder foreclose on the property. However, foreclosure is not a foregone conclusion and there are options available that individual homeowners and their mortgage providers can consider. … more
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