How to Short Sale
If you are facing foreclosure, it is possible that your situation may be ideal for a short sale. Many people wonder how to short sale, but the best way to find out if your situation qualifies, and if it is the best choice for you, is to contact a professional attorney who has ample experience with real estate short sales.
For the homeowner, a short sale is usually a better option than foreclosure because it does less damage to one’s credit; however, everyone’s situation is different. There are also much less fees incurred for the bank if a short sale is approved, compared to a foreclosure, so they have some incentive as well.
In a short sale, the banks or lenders are essentially deciding that they would benefit more in the long run if they accept less money from the short sale than what they loaned to the home owner. A loan modification is one of several alternatives that the bank or lender might prefer over a short sale.
As you can imagine, it is much more difficult to convince a bank or lender that a short sale is the best option for them. That is why it is very important to hire an expert attorney who specializes in real estate, finance and how to short sale.
The Illinois Law Group has more than 20 years experience on its side and we will use that experience and expertise to work with you, your bank and your realtors. We will negotiate a short sale, or whatever is the best option for you, and help you take back control of your finances.
We will work hard and diligently to ensure that you are protected from any deficiency judgment. We also want to make sure that you receive the highest tax protection possible for any forgiven debt that may result. Our attorneys work around the clock to make this difficult time in your life as easy as possible.
We want to help. Call us today (773-634-8618) and immediately start talking with one of our attorneys about your situation, what the best possible solutions for you may be and the next step to take.
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