New Jersey Attorney Handling Short Sales
One option that is available in avoiding foreclosure is a short sale. However, dealing with a short sale on your own can be difficult and forbidding if you are not comfortable with complex legal documents. Having an experienced and knowledgeable lawyer can help you complete your short sale efficiently and effectively.
At the Law Offices of Darin D. Pinto, P.C., we provide New Jersey residents with advice and guidance on ways to avoid foreclosure, including the use of short sales. We work to help clients understand their rights and options for dealing with financial issues and debt, including filing for bankruptcy and seeking debt reorganization.
To learn more, please see the information below or contact us by e-mail or by phone at 908-317-9405 to schedule an initial consultation.
Short Sales
A short sale is when property is sold for less than outstanding balance on the mortgage. Because the sale is short of the balance, it is known as a "short sale." With the mortgage loan crisis has forced banks to become more accepting of agreeing to short sales, as record foreclosures have forced them to carry a great deal of real estate on their books.
Benefits of a Short Sale
A short sale is frequently used to avoid foreclosure. Banks and other lending institutions benefit from a short sale, as they are able to recover the market value of the property without the expense of foreclosure or other legal costs. This is why banks and lenders are often willing to negotiate a short sale with a homeowner.
A short sale allows you to eliminate your mortgage, but you could still be obligated to pay the difference between the mortgage balance and the sale price. You want an experienced attorney to help you negotiate your short sale, working to minimize any remaining balance. For more information on how to deal with debt, foreclosure or to keep your home, get in touch with our firm as soon as possible.
Contact Us
To further discuss a short sale or other options for preventing foreclosure, call 908-317-9405 to contact our office today.
Law Offices of Darin D. Pinto, P.C.
376 South Ave East
Westfield, NJ 07090