Cape Coral Short Sale Lawyer

What is a short sale?

A short sale is the sale of a property that is worth less than what is still owed on the mortgage.  If you have defaulted on your mortgage, or foresee that you will be unable to make your payments in the near future, you can pursue a short sale of your home as an alternative to foreclosure.  There are many benefits to the short sale process, including:

• The avoidance of certain legal action that a lender may take at a later time (such as a foreclosure lawsuit).
• The opportunity to liquidate an asset that is declining in value, as well as secure a fair price for the property.
• Being able to rid oneself of a now bad investment, and eliminating any liabilities attached to it.
• Avoiding foreclosure, and all the negative consequences associated with the process. 

It is absolutely *crucial* that the seller understand certain aspects of a short sale.  Many banks approve short sales without providing any information to the borrower about the bank's intentions regarding the shortage.  No seller should ever close a short sale unless the bank makes it very clear what their intention regarding the shortage is.  This is because the bank may ultimately reserve their right to sue the borrower personally on the shortage.   An experienced lawyer understands this, and can advise you on closing such a short sale. 

My name is Rex Powell, and I am a Cape Coral foreclosure lawyer.  In addition to defending individuals against their foreclosure proceedings, I am also available to walk clients through the steps of any process that serves as a foreclosure alternative.  This includes short sales, loan modifications, or deeds in lieu.  Contact my offices if you are considering short selling your home, and I will assist you in negotiating with your lender to possibly make a short sale a reality.  With my help, you may be able to avoid foreclosure proceedings on your home, and the adverse affects that such a process can cause.

Short Sale Attorney in Cape Coral

While a short sale is available to any homeowner as a foreclosure alternative, it is not always easy to get a lender to agree to such an option.  There are many legal hurdles that must be overcome, and a person who is unfamiliar with the process may fail in their attempt.  Contacting an experienced attorney can greatly increase one's chances of securing a short sale, as an attorney will be able to skillfully negotiate with the lender on one's behalf.

Are you facing the foreclosure of your home?  Contact a Cape Coral Short Sale Attorney who may be able to secure the short sale of your home as an alternative to foreclosure.