SOUTH FLORIDA SHORT SALE ATTORNEYS
REAL ESTATE LAW
Short Sales, where the mortgage company agrees to accept a “short” payoff of their mortgage (less to pay off the mortgage then what is owed) are experiencing a comeback. Perhaps it is the fact that second lenders are filing foreclosure actions at higher speeds, or the statute of limitations is running on mortgages, whatever the cause, short sales are slowly increasing.
In a short sale, the homeowner lists the property for sale at a price lower then what is owed to the mortgage company. The balance to the mortgage company is then negotiated so that the lender accepts the sales price, pays the borrowers closing costs and the borrower’s mortgage debt or balance is forgiven.
A true short sale, done accurately and proficiently will erase the mortgage balance AND the lender will agree to waive or never collect the balance of the mortgage. This is true whether Property values and real estate sales in South Florida and across almost all parts of the country are thriving. However, for a select few, short sales still linger. Many lines of credits with ten-year and 5-year maturity dates are beginning to mature, causing homeowner mortgage payments to rise significantly, wherein the borrower/homeowner can no longer afford their mortgage payments.
Even if home values remain on the increase, if a homeowner can no longer afford their payment, they may try to short sale or modify their loan to see if they can save the home or exit gracefully.
At the Law Offices of Jacqueline A. Salcines, P.A., our lead attorney brings extensive knowledge and expertise in the field of negotiating short sales and loan modifications. We have an in-house short sale and loss mitigation department headed by managers with extensive experience. Jacqueline Salcines, Esq.is also an attorney, title agent and accountant, able to handle the full transaction without having to contract any outside services, saving the borrower money. We are here to help iron out issues and move the transaction from imminent default to resolution.
With prompt intervention to resolve disputes amicably, without the need to litigate, we are here to get borrowers the results they desire. Call us today to see what we can do for you.
For more than 18 years, Jacqueline Salcines has been practicing law with the need of her clients first. Upon calling the firm you get the feel of how the client is our first priority. We are here to help you with your purchase or sale and do so with hands-on legal experience.
Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com