Being a homeowner can be a source of concern and worry, especially if you have the threat of foreclosure and bankruptcy looming over your household. Achieving debt forgiveness and getting back on your feet can seem unattainable, especially if you’re on your own. Thankfully, getting in touch with a short sales attorney can get you on the right track to lifting the financial burden off of your shoulders as a homeowner. One of the various legal services consumer law firms offer to save clients’ homes is short sales, in which an attorney guides a homeowner through the short sale approval process, from submission to closing.
Understanding Short Sales
Each servicer comes with different short sale submission procedures and requirements, which can make them an uphill task to navigate as a layman. While such legal processes can be challenging to wrap your head around, engaging a short sales attorney makes the journey to short sale closing much less complicated.
A short sale is essentially an offer of a homeowner’s property at an asking price that is lower than the balance due on said homeowner’s mortgage. A short sale is timed to allow the homeowner to sell the property before their servicer seizes it through foreclosure. The proceeds of any short sale will automatically go to the servicer, who then has the choice to either forgive the remainder or pursue a deficiency judgment. However, states such as Nevada have laws in place that restrict deficiency judgments after a short sale, based on specific conditions.
Why Choose Freedom Law Firm?
If you’re pursuing financial recovery, Freedom Law Firm is the place to go. Our consumer law firm is one of the most highly experienced in Las Vegas, with thousands of satisfied clients under our belt.
To find out more about our short sales attorney, call us at 702-880-5554 or fill out our online form to schedule a free consultation.