When Does A Short Sale Become Necessary?
When house prices are falling, many properties cannot be sold at a price that allows the seller to pay off the mortgage in full. Under these circumstances, short sales become a popular option.
In a short sale, the lender agrees to accept the sale price, less your closing costs, as payment in full. The Law Office of Phil Napolitano is a residential real estate and business law firm serving clients in the Bronx and throughout New York. Attorney Phil Napolitano assists clients in finding the best solution to meet their needs and help them preserve their financial future. He helps clients ensure that terms of a short sale are advantageous and secured through all documentation.
People and lenders consider short sales for many reasons. If overall debt is so high that there is no way to avoid foreclosure while keeping your home, a short sale may be the best way out of the problem situation. A short sale prevents you from being dragged into foreclosure and further damaging your credit rating. We will discuss the possibility of negotiating a short sale of your home and make sure you completely understand the financial consequences involved. We will take any actions that we can to protect your interests.
Your Advocate Throughout The Process
The short sale process is complex, and mistakes can be easily made. With the assistance of an experienced residential real estate lawyer, you can make sure the decision you choose is the best in the long term. Bronx short sale attorney Phil Napolitano will help you assess your situation and, if needed, guide you through the short sale, making sure it goes as smoothly as possible.
We have more than 25 years of experience in real estate law, negotiating transactions and resolving disputes. We have the knowledge and skill necessary to recommend options uniquely tailored to each individual client.
We will help you apply to the bank for a short sale, documenting the hardships that have led you to seek this option. The bank will assess the value of the house and your financial situation in order to decide whether to accept. If you have multiple mortgages or home equity loans, multiple lenders will be involved.
Contact Our Real Estate Firm For Guidance With A Short Sale
If you are looking at negotiating a short sale solution to your mortgage problem in New York City, attorney Phil Napolitano is ready to advise you. With years of experience and many successful outcomes for previous clients, he has the skills necessary to protect you from unexpected negative outcomes.
To discuss your options with a residential real estate lawyer during a free initial consultation, call our office at 718-414-6175 or reach us online through our contact form.
Se habla español. We have a large Spanish-speaking clientele and bilingual staff on hand.