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What is a Short Sale?

If you are being threatened with foreclosure, a short sale is viable alternative you should consider. A short sale occurs when the lender agrees to allow the homeowner to sell their home for less than it's worth and forgive the rest of what is still owed on the loan. Although you will not be able to keep your home, the benefit to you is that your credit will be spared from the damage of allowing your home to go into foreclosure.

The important thing to remember about short sales is that the lender MUST AGREE to it. While some lenders feel it's better to recuperate some of money on the house and avoid the hassle of foreclosure, other lenders may find it more profitable to just let the home go into foreclosure.

At Pacific Attorney Group, we are committed to helping struggling homeowners throughout Los Angeles fight foreclosure. If you have been served a Notice of Foreclosure, or if you have fallen behind on your mortgage payments and no longer wish to keep your home, you can rely on a Los Angeles foreclosure defense attorney at our office to help you explore all possible options and alternatives. Our number one priority is helping our clients find the best possible long-term solution for themselves and for their families.

Contact Pacific Attorney Group by calling (213) 236-4400 today!

Categories: Foreclosure Defense

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