Short Sales May Offer Struggling Property Owners Viable Alternative to Foreclosure in NJ, PA and FL
Superior Legal Counsel from Accomplished Real Estate Lawyers
When it comes to the real estate market, there’s good news and bad news. On the positive side, the economy is steadily improving and many communities throughout the United States are seeing increased activity. On the down side, millions of Americans, hit hard by several years of recession, owe far more than their property is worth. In many cases, job loss and other harsh economic blows have caused people to fall far behind on their bills.
Struggling property owners have alternatives to bank foreclosure. We invite you to speak with the knowledgeable, experienced short sale attorneys at Rothamel Bratton. We have represented many real estate owners, just like you, in New Jersey, Philadelphia, PA, and Florida, in short sale negotiations. Contact us today for a consultation.
What is a Short Sale?
When you buy property, you negotiate the very best deal you can with the hopes that, in due time, the value of the real estate increases as you pay down the debt. However, in a poor economy, such as the recession the entire United States has experienced recently, it’s not uncommon for a property owner to find their real estate is worth less than the amount they owe on the mortgage(s).
If you owe more than your house is worth, you may want to consider a “short sale.” In a short sale, the real estate is sold for its fair market value and the lien holders agree to accept the proceeds of the sale as final payment in full. This is a great option for homeowners who are in over their head in debt and wants to protect their credit as much as possible by avoiding a foreclosure. You can download free short sale application forms and documents by visiting Rothamel Bratton’s Resource Center.
What are the Advantages of a Short Sale for the Homeowner?
With debt usually comes frustration, stress and many sleepless nights. No matter how many times you add up the numbers, they fall short. When it comes to solving your real estate issues, however, a short sale may be a good option.
- You may not have to file for bankruptcy. You may be able to get out of some of your real estate obligations, and potentially keep the rest of your possessions.
- Avoid foreclosure. At the point you are considering a short sale, you are likely also facing potential foreclosure. Choosing a short sale negotiation can keep the bank from foreclosing – resulting in less damage to your credit report.
- You can re-establish credit and get a fresh start. At the conclusion of a short sale, the debt will be marked “settled” on your credit report. You will avoid bankruptcy and foreclosure and your credit score will take a reduced hit. The result? You will be able to move on faster and begin to re-establish good credit.
Contact Rothamel Bratton for a No-Cost Short Sale Consultation Today
Attorney John Rothamel will help you determine if a short sale is in your best interests. Often, he is able to negotiate with lien holders in an effort to get them to approve your short sale. Competent, experienced representation can mean the difference between an expeditious short sale and a lengthy, drawn-out process.
Contact us for a consultation with experienced short sale lawyer John Rothamel. He is an utmost authority in real estate law in NJ, PA and FL and will review your situation and explain your options in a way that puts you at ease. Call 888-981-9510 or fill out our convenient online form. We have New Jersey offices in Haddonfield and Lawrenceville, as well as one in Philadelphia, PA, and one in Fort Lauderdale, FL.
You can count on Rothamel Bratton to manage your short sale with the dignity and professionalism you deserve.
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