Did you know you might be eligible for a short sale if you're facing foreclosure and can no longer afford your house?

What is a Short Sale and the benefits of doing one?

The primary benefit of a short sale is that it will allow you to avoid foreclosure and preserve your credit if you find yourself in a situation where you owe more on your house than it is worth and you need to sell.

The benefits of a short sale include:

• Following the sale, you won't have any debt. Your loan will be regarded as "settled" by your lender.

• You'll be in a position to prevent foreclosure.

• The timelines and your circumstances will be under your control.

• Less damage will be done to your credit than in a foreclosure.

• As opposed to a foreclosure, you will be able to buy a home sooner.

• There won't be any public information about your credit.

• The sale can be conducted in private.

Why Hiring an Attorney Is Necessary to Negotiate a Short Sale

To effectively close a transaction, you will need the assistance of a short-sale lawyer who can negotiate with the bank, realtors, lenders, and real estate attorneys.

Legal counsel cannot be given by a real estate agent who isn't admitted to practice law. Due to laws constantly changing, it is a good idea to have an attorney in your corner guiding you through this process.

Where to start?

To examine your case and determine whether a short sale is appropriate for you, get in touch with us right away.

After reviewing your circumstances, we'll be able to point you in the direction of the best course of action.

If you are interested in learning more about working with the Law Offices of Senerchia & Sheehan on your Short Sale reach our offices today! 

Schedule a call with one of our attorneys today: 401-615-3880

Email: [email protected] 

The Law Offices of Senerchia & Sheehan and a family-owned company with a mission of putting families first. We take great pride in being able to assist members of our community get back to a stress-free life. 

Disclaimers: This article is used for reference only and not intended to be legal advice. If you are looking for Legal counsel, please call our firm today!