Bloomfield, New Jersey, Lawyer Helping Clients with Foreclosure and Short Sales
If you are struggling to make your monthly mortgage payments, in foreclosure or you if your mortgage is more than your home is worth, you may want to consider “short selling” your home.
What is a “short sale”?
A “short sale” is simply selling your home, with the permission of your bank, for less than what you own on your mortgage. In many instances, the selling homeowner can obtain approval from his bank to accept a reduced amount to satisfy his outstanding loans. This can avoid or stop foreclosure and can even help protect your credit.
How Can a Short Sale Benefit Me?
A short sale is a clear option for someone who is struggling with serious mortgage debt, behind on their mortgage payments and/or in foreclosure. In some instances, negotiating a short sale with your bank will stay a foreclosure proceeding and if accepted, the bank will voluntarily dismiss the foreclosure action all together.
In addition, a homeowner is now able to sell his primary residency for less than what is owed on the mortgage without incurring an additional tax liability. This exemption for forgiven debt, however, is only temporary and will expire. Short sell your property now to take advantage of this tax forgiveness.
An experienced real estate attorney can help you navigate this complex process. With our help, we can negotiate with the bank to arrange a short sale agreement.
At the Law Offices of Christopher T. Howell, Esq., we want to minimize your real estate concerns. As your attorney, we can effectively negotiate with your bank to help you avoid foreclosure, by selling your home through a short sale. Lenders are becoming increasingly open to this option, even though the proceeds from the sale are sometimes far less than the actual property value.
Call today for a free consultation ! During your initial consultation, we will review your financial situation and ask questions to determine if a short sale is a viable option.
Contact Us for Experienced Representation If you received a foreclosure notice, please do not waste any time — an experienced real estate attorneys can help you effectively negotiate with the bank and provide you with the representation you will need in your foreclosure proceeding. This dedicated advocacy can help you protect your home, your credit and your future.
Law Offices of Christopher T. Howell
348 Franklin Street
Bloomfield, NJ 07003
Phone: (973) 259-1122
To speak with a New Jersey mortgage fraud, foreclosure defense and short sale lawyer, contact Law Offices of Christopher T. Howell.
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Law Offices of Christopher T. Howell provides immigration legal services and personal injury representation in the following New Jersey locations: Essex County, Hudson County, Union County, and Passaic County, including Bloomfield, Montclair, Orange, Clifton, Nutley, Paterson, Hackensack, Newark, Jersey City, Elizabeth, New York City, and Philadelphia.
