Tampa Short Sale Lawyer
Before you consider short selling your home, you should know your options and the potential consequences of a short sale. The decision for a short sale should never be made without consulting with an experienced Tampa short sale lawyer, one who knows how to negotiate with lenders to get the outcome you deserve. At Messina Law Group P.A., we fight for our clients and their rights as a homeowner.
What Is a Short Sale?
A short sale is when a mortgage lender is willing to sell a property for less than what is owed. The property is listed for sale as a short sale, then a buyer comes along and makes an offer.
This might sound like a straightforward process, but it’s complicated— the process involves mortgage brokers, realtors, appraisers, mortgage servicers, investors, and other actors all with their own incentives that may not align with your goals.
Is a Short Sale the Right Option for Me?
Short sales may be a good option if there is no equity in the property. Another reason a short sale may be beneficial is if you want to walk away from the property and avoid foreclosure. There are potential disadvantages to a short sale that homeowners need to know about. A short sale may not be as harmful to your credit as a foreclosure, but there will still be damage. You could have financial liability after a short sale, which gives the lender the ability to pursue legal actions against you. An experienced attorney will fight on your behalf to avoid legal repercussions against you.
Do I Qualify for a Short Sale?
Typically, the homeowner must prove they are unable to pay their mortgage and demonstrate financial hardship to get out of the financial obligation for less than they owe. However, just because a mortgage lender agreed to a short sale does not guarantee that a homeowner is released from any liability.
What Are Alternatives to a Short Sale?
There are alternatives to a short sale that may be a better fit for your situation. These include a deed in lieu, loan modification, or bankruptcy. At Messina Law Group P.A., we will analyze your specific situation to see what the best choice is for you.
Contact Us Today
Our Tampa real estate attorneys have the necessary skills to help you navigate the short sale process. Contact us today to discuss your case. Our team will help you select a strategy best suited for your unique situation.