Koch & Associates has extensive experience in handling short sales for our clients. Our founder and president, David Koch Attorney at Law, represented banks in foreclosure proceedings early in his career. As a result, our foreclosure defense attorneys have insiders knowledge of how lenders operate. And these insights allow us to secure the most favorable terms for our clients.
In addition to being a short sale real estate attorney, Mr. Koch is also a licensed real estate agent. Thus, he fully understands short sales from every perspective, those of the lender, the borrower, the agent, and the attorney. This unique vantage point allows us to negotiate short sales that benefit our clients while presenting the other parties with terms they can accept.
Why Hire a Short Sale Real Estate Attorney?
The short sale process can be confusing, and navigating it without proper legal advice can result in additional financial troubles. By hiring a short sale real estate attorney, you can confidently navigate these complex proceedings. Our law firm will stand with you from beginning to end and make sure you fully comprehend all of the terms before finalizing anything.
Even if a bank agrees to a short sale, they may still pursue a deficiency judgment. This means that they would hold you personally liable for the difference between the sale price and the mortgage debt. In these cases, the bank could continue to seek reimbursement until you pay off the total amount of the initial loan. They may even be able to garnish your future wages.
Unfortunately, these situations are far too common when short sellers lack legal representation. And while we can’t guarantee that your lender will agree to a waiver of the deficiency, we can at least negotiate to settle it for a lesser amount. We can also help you gather the necessary documentation to make your case, which may include:
- A financial hardship letter
- Bank statements
- Tax returns
- Proof of income
Short sales are an effective way to avoid foreclosure, but they are a complicated process. And when not handled properly, they do little to improve the financial situation of the seller. We can give you the legal counsel you need to make sure that doesn’t happen to you.
Don’t let your home loan’s mortgage payments trap you in a losing battle. Let us provide you with the help you need to regain control of your finances.
Call to Schedule a Consultation with a Short Sale Attorney
Call us today at 708-656-9900 or reach out via our site to schedule a consultation with a real estate short sale attorney. Most initial consultations are free.
