What is a short sale?

What is a short sale?

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Do you owe more than what your home is worth? Do you have a financial hardship resulting in your inability to pay your mortgage on time or are you facing a foreclosure? You may qualify for a short sale. A short sale is when your lender accepts less than the amount due and owing to them. An experience foreclosure defense attorney can negotiate with your lender to allow you to sell your house for less than what is owed and negotiate any deficiency judgment (the difference between the amount paid to your lender versus what they were owed), since as the Seller you will be responsible for all outstanding liens and closing costs associated with the sale. So many homes lost a tremendous amount of equity during the housing crisis.…
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What is a Mortgage Modification?

What is a Mortgage Modification?

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Have you been served with a Summons and Foreclosure Complaint? You have several options depending on whether you want to keep your home or walk away.  Regardless of the option you decide, it is critical that you respond to the Foreclosure Complaint within 20 days from the date you were served otherwise the bank can move for a default judgment against you and later sell your property at auction. It is critical to speak with an experienced foreclosure defense attorney, to discuss all of your options. An important part of foreclosure defense is discussing the foreclosure alternatives available with an experienced foreclosure defense attorney. There are several government and lender specific programs available to struggling homeowners. The following are the most widely utilized loss mitigation options: Mortgage Modification, Short Sale,…
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