In today's economic environment, many homeowners find themselves underwater. Their homes are worth less than the outstanding amount of their mortgages. Simply walking away from the mortgage is not an option, because the lender could pursue and obtain a deficiency judgment against you.
A short sale is one possible solution. In a short sale, you arrange to sell your house to a third party and the mortgage lender agrees to settle for less than what the lender is owed. Does it sound neat and tidy? Properly executed the answer is yes, but the advice and services of an experienced attorney is essential to protect your interests and to avoid tax liabilities.
The Law Offices of Michael S. Schwartz has successfully handled a number of short sales for Pennsylvania homeowners. We will work to achieve a short sale as quickly as possible, while avoiding possible adverse consequences.
Call us at 215-396-7900 or contact us online for a free consultation.