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New York Short Sale Lawyer

What is a short sale?

Short sales are foreclosure options that can help individuals resolve their financial issues. Homeowners and the lender can enter an agreement in which the home is sold for an amount lower than that which is actually owed to the lender.

The money that is made on the sale is turned over to the lender and the debt is considered fully satisfied. As you face a financial difficulty and consider short sales as an option, we encourage you to speak with our New York foreclosure defense attorney for the legal guidance you need.

Information About Short Sales

Short sales are often the best solution for individuals who are looking for a foreclosure option that can help him or her avoid filing for bankruptcy. If you are looking for a debt relief option while still giving the lender the money he or she is owed, a short sale should be considered.

When you are looking to avoid foreclosure after a decline in property value, short sales can help you stop the foreclosure of your New York home. When your lender agrees to accept a sale price at fair market value, you can successfully avoid foreclosure.

Short sales are complicated processes but can prove to be beneficial for many individuals. Tax implications may exist in different circumstances, such as if the lender writes it off as a loss or as income to the homeowner. If the owner takes a loss on their investment, the income attributed will be offset.

Get A Free Consultation From Our Firm!

During this process, you should retain the legal services of our experienced firm. We can discuss whether or not this is a valid foreclosure option based on the specific factors of your situation. Contact E. Waters & Associates, P.C. today for the representation you need.

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