Ventura Short Sale Attorney
Avoiding Foreclosure with a Short Sale
A short sale is a way to prevent foreclosure by selling your home for less than it is worth. Arrangements are worked out with your lender to sell your house, and the proceeds are used to pay off your mortgage. Depending on the situation, any remaining balance may also be forgiven. One of the key advantages to a short sale is that it prevents a foreclosure from appearing on your credit report and damaging your rating. A short sale will also show up on your credit history, but its effect will not be as severe as a foreclosure. Lenders will often agree to a short sale to avoid:
- Paying the legal and administrative costs of foreclosure
- Spending their own time and money finding a new buyer
- Paying commissions to real estate broker
If you are having trouble keeping up with your mortgage payments, contact a Ventura bankruptcy lawyer to find out the best way to prevent a foreclosure. A bankruptcy attorney can explain the short sale process, along with its advantages and disadvantages. You can also find out about other ways to circumvent a foreclosure, such as a deed in lieu, strategic default or filing for bankruptcy.
Bankruptcy Attorney Serving Santa Barbara, Woodland Hills, Oxnard, Camarillo, Ojai, Thousand Oaks, Simi Valley and Santa Paula
Overwhelming debts can create an uncertain future and result in the loss of your property, such as a home or vehicle. Finding the right solution to your situation can be vital, and help eradicate your debts once and for all. Bryan Diaz Law, P.C. is a respected bankruptcy firm that with a comprehensive knowledge of foreclosure laws and other statutes pertaining to consumer debts. We have a successful track record helping clients improve their financial condition, and can give you whatever legal advice and assistance is needed regarding your home. Financial problems are often attached to complex legal issues and are best addressed by a skilled lawyer. We will develop a strategy to eliminate your debts and help you create a brighter financial future.
Contact a Ventura short sale attorney for trusted representation and assistance if you are behind on your mortgage payments.