Short Sale Lawyer: Before You Decide To Sell

Hiring a good short sale lawyer is the best thing you can do before deciding to make a sale. They can advise you about your liability and give you a full spectrum of your options before you take the first steps. But before you even make that first call, you should know all you can about the process and whether or not it is the right path for you to take. The system gives homeowners a valuable way to get out from under the crushing weight of an upside down mortgage, but it isn’t always the best answer. To decide what’s right for you, you need to understand what exactly it is.

First of all, before you begin the process, you need to know what options the creditors have if the loan defaults. When you fail to make the payments that are required by the terms of the loan, you could be facing a variety of situations, depending on who your creditor is and what type of loan you have. This is only one of the reasons why hiring a short sale lawyer is so important to the process. Going to your creditors and telling them your plans may not work in your favor if you don’t have legal counsel by your side. Many times, they won’t be willing to listen and will hear you basically telling them that you plan on defaulting. This could result in foreclosure before you have a chance to move forward with your sale.

Whatever you do, don’t get caught up in a scam. Anytime something like the short sale becomes a hot button issue, you can bet there will be no shortage of companies coming out of the woodwork, looking to make a fast buck. This is just one more reason why hiring a qualified, reputable short sale lawyer is in your best interests. Find someone who is bound by the bar association and the law to look out for you. Avoid companies promising things they can’t guarantee, such as the prevention of foreclosure or your ability to remain in the house after the sale.

Finally, don’t commit a crime just because you’re angry about your financial situation. There is a crime known as “wasting”, which refers to a homeowner intentionally damaging their house to get back at their creditors. This can land you in jail, not to mention the possibility of creating further financial issues. Hire a short sale lawyer, find an amenable way out of your situation, and don’t make things worse than they already are.