Greater Danbury Area Short Sale Attorney
Is your home or business property under water?
Being “under water” means that you owe more on the property than it is worth. This can be stressful because it causes two common situations:
1. You are still making your mortgage payments but you are not creating any equity. If you had to sell the property and pay off your mortgage there would be nothing left; or
2. You are not making your mortgage payments, the property is in foreclosure or soon will be.
While it may not seem like much of a solution, a short sale may be the right path for you to take. In a short sale, you ask your Lender take a lesser amount than you owe in full satisfaction of your loan. Why would your Lender accept such an offer? The answer is that you have to present the situation to them in a way that makes it look like a good business decision for them by provide the proper documentation.
What does a short sale mean for the property owner? It means you become free and clear of the property and any associated debts. What a load off you shoulders that could be! Your Lender might even give you a “relocation incentive” just to get you to give up the property.
If you are considering short sale or want to discuss the possibility or benefits of a short sale, contact Glouzgal Ramos Groth LLP. We offer free consultations to all our clients, so we can answer any questions and show you why we are the right attorneys for you.