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.
Our firm has relationships with a number of real estate brokers and mortgage lenders. We can coordinate all aspects of your transaction, from negotiating the agreement with your lender to working with a real estate broker to finalize the sale. We will also pay close attention to any possible tax implications and will work to minimize or avoid potential tax liabilities.
Because Michael S. Schwartz is a lawyer, he is respected by mortgage lenders. When our firm calls, they listen. We will work to accomplish your short sale in an efficient manner, while minimizing the financial cost to you.
A short sale is one way to get out from under a burdensome mortgage; however, you may have other options. A Chapter 13 bankruptcy or a loan modification may provide debt relief while allowing you to keep your home. Only an experienced attorney can provide the objective advice you need to make the right decision.
Michael S. Schwartz can review your options and recommend the right solution for you.
For a free consultation with the Law Offices of Michael S. Schwartz, call 215-396-7900 or send us an e-mail.
We have offices in Southampton, Havertown and Perkasie to serve you.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.