At the law offices of Russell S. Warren, Jr., Esq., we help individuals who are experiencing a real estate mortgage crisis by working with mortgage lenders to arrange for short sales. The best time to call us is a soon as you know you're in trouble. But, no matter where you are at in the process, calling sooner rather than later is always best.
|
You may have heard about the government programs established to help those at risk of home foreclosure. Unfortunately, a majority of the real estate foreclosure and mortgage modification programs are not yet fully functional. In addition, most banks are allowed to participate on a voluntary basis. What may have looked like a promising answer may in reality come too late or not at all.
Contact us now to schedule an appointment about a short sale. After your free initial consultation, you'll know your rights and what the future holds.
Basically, a real estate short sale is when your lender allows you to sell your property for less than you owe on your mortgage. The bank then typically forgives the remainder of your debt.
If you sell your property for less than you owe without the bank's permission, you will still owe the rest of that money in what is called a deficiency judgment.
Banks are willing to do this because it costs a lot of money to foreclose upon you. A short sale also saves you the bank's attorneys' fees and other foreclosure expenses, which would be added to your debt.
A home short sale allows you maximize the amount of money you'll be able to get for your house instead of having it sold at auction.
Our clients typically contact us when their mortgage goes into arrears, when they get an offer to sell their home, or when they get a notice of intent to foreclose from their bank. If you are at risk for foreclosure, attorney Warren can work with your bank to negotiate a short sale. Having a short sale on your credit report is far more positive than having a foreclosure or bankruptcy.
To schedule a free consultation by phone or at our Englewood Cliffs office, contact us by e-mail or call 201-503-0773.
Russell S. Warren, Jr., Esq. | |
Law Office:473 Sylvan Avenue, First Floor | Mailing Address:P.O. Box 1234 |
Englewood Cliffs, New Jersey attorney Russell S. Warren, Jr., Esq. represents clients throughout northern New Jersey in communities such as Englewood Cliffs, Englewood, Bergenfield, Cliffside Park, Dumont, Fort Lee, Garfield, Hackensack, Leonia, New Milford, North Bergen, Paramus, Passaic, Patterson and Teaneck.Bergen County | Hudson County | |
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.
Copyright © 2012 by Russell S. Warren, Jr., Esq. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement.