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There is a lot of talk nowadays about “short sales.” Simply put, a “short sale” is the sale of a property for less than what is owed against it. Sometimes it make good sense to short sell one’s home, other times it does not. To be sure, there are alternatives to a short sale, some of which may help save your home – if that is what you want.
Be weary of anyone pressuring you to short sell your home. A short sale may result in many unintended consequences. For instance, a short sale may result in additional tax liability. A short sale may not pay off all of your home loans – it is not uncommon for someone to be sued by a lender after the short sale process has completed. A short sale will damage your credit – often as badly as a foreclosure! Realtors often pressure people into completing a short sale when there are other options available – options that would allow many homeowners the ability to keep their home.
Contact us today to arrange a confidential consultation with Attorney David Speckman. Mr. Speckman will provide you with straight and honest answers to your questions regarding whether a short sale is a good idea for you. There are alternatives out there! Find out what your options are before it’s too late.