There are many misconceptions about the short sale process in Florida. At Loan Lawyers, LLC we have short sale lawyers in Broward (Fort Lauderdale / Plantation), Miami-Dade (North Miami Beach, Coral Gables), and Palm Beach (Delray Beach) ready to represent you in connection with the short sale process. Our attorneys are trained to help avoid many of the pitfalls that are common when selling a home for less than what is owed.
A Quick Look at the Florida Short Sale Process and why a lawyer is so important.
In a short sale, the bank is allowing you to sell the home at a price that is less than the amount owed; however, this is only one small part of the story. While this sounds like a great solution, it could turn out to be a nightmare later on if you do not have a short sale attorney representing you for your short sale. Although the bank may allow you to sell the house for less than what is owed, there is no guarantee that the bank will release you from the balance due. This is especially true if you have a second or third mortgage. When you have an offer for a short sale that is less than what is owed on the first mortgage, there is no money to satisfy any junior mortgages. Thus, you have to convince the primary lender to release some funds to the junior mortgages, and you have to get all lenders to agree to waive any deficiency so they can not come after you later.
Let's say that you owe $200,000 on your house and that the bank allows you to short sell it for $125,000. What happens to the $75,000 difference? Many times, the bank will still hold you responsible for this amount. It is not uncommon for people who short sell their houses to get sued by the bank for the difference. Only a short sale attorney can give you legal advice about this situation. We offer Free consultations in Fort Lauderdale / Plantation, Coral Gables, North Miami Beach, and Delray Beach.
The banks are tricky. Remember that all of the agreements they want you to sign are written by bank lawyers. They oftentimes are vague and ambiguous and written in such a way to confuse you. If you do not understand every word of what you are signing, then DO NOT SIGN. Hire a short sale attorney immediately so that you are protected. We have seen homeowners time and time again who did not get a short sale lawyer to represent them and months or years later they are being sued by the bank. Each homeowners does not understand why the bank is coming after them after so much time when the bank approved the short sale. Remember, just because the bank is allowing you to sell the home for less than what is owed does not mean that they are releasing you from the difference, or deficiency. Call us today for your free consultation in our Broward, Miami-Dade, or Palm Beach County, Florida office or over the phone if you do not live in South Florida.
Loan Lawyers, LLC has short sale lawyers in Broward, Miami-Dade, and Palm Beach but we represent clients throughout the state of Florida.
If the bank requires you to pay the difference, your short sale did nothing but enrich the bank. A Florida short sale help attorney can negotiate with the bank and look out for your best interests. At Loan Lawyers, LLC, all of our attorneys are qualified to represent you in a short sale negotiation. We have offices in Broward County, Miami-Dade County and Palm Beach County. Our consultations are always free and we provide reasonable rates for our clients because we care about your rights. Contact us today to learn more about protecting your rights as a homeowner in Florida – 1-888-FIGHT-13. We will give you a free consultation with a short sale lawyer in Coral Gables, Fort Lauderdale / Plantation, Delray Beach, or North Miami Beach.
If you do not live in Broward, Dade, or Palm Beach, we can still represent you in your short sale. We represent homeowners throughout the State of Florida.
At Loan Lawyers, LLC we offer free consultations with one of our foreclosure lawyers in Broward, Dade, and Palm Beach Counties. Our main office is in Plantation, with satellite offices in North Miami Beach, Coral Gables, and Delray Beach and we serve all Florida cities, including Fort Lauderdale, Miami, Sunrise, Palm Beach, Boca Raton, Weston, Plantation, Davie, Hollywood, Hallandale Beach, Pompano Beach, Lauderdale Lakes, Oakland Park, Delray Beach, West Palm Beach, Greenacres, Lake Worth, Lake Park, Kendall, Miami Beach, North Miami Beach, Aventura, South Beach, Tampa, Fort Myers, Key West, Key Largo, Stuart, Jupiter, Port Saint Lucie, Jacksonville, Tallahassee, Pensacola, Orlando, Kissimmee, Ocala and all other Florida cities and counties.