What is a Short Sale?

If you are being threatened with foreclosure, you should take a moment to consult an experienced foreclosure defense lawyer at the Carman Law Firm about your options. There are several alternatives to foreclosure you can take advantage of, one of which is a short sale.

A short sale is basically an agreement from the lender to allow the homeowner to sell their property for less than it's worth. In a short sale, the lender also agrees to write off any remaining debt still owed on the home by the owner.

Who Should Consider a Short Sale?

Although a short sale is a viable way to avoid foreclosure, it is not for everyone. If you are someone who wants to keep your home, you should not consider a short sale. A short sale is only for those homeowners who have fallen behind on their mortgage payments and are okay with giving up their home. Although relinquishing property rights is a difficult thing to do, in doing so you will no longer be threatened with foreclosure and the stress and anxiety that comes with it.

Do not be ashamed or embarrassed about considering a short sale. With the economy as volatile as it is, countless homeowners throughout Florida and across the country have had to make the same difficult decision you are faced with today.
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