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Mortgage Foreclosure, Short Sale, Bankruptcy, and Deficiency Judgment.

If you are facing any kind of foreclosure matter at any stage, you have options.  We can carefully review those options with you:

Avoid Deficiency (Personal) Judgment - In mortgage foreclosure actions, short sales, and deeds in lieu of foreclosure, the lender will attempt to obtain a deficiency (personal) judgment against you.  With the deficiency judgment, the lender can pursue other assets you may own or seek garnishment of your wages.  It is a common mistake that all parties, including the owner, involved in the transaction often overlook the potential that the lender can obtain a deficiency judgment against the owner.  In some situations, which can be difficult to obtain, we can negotiate with the lender to waive the deficiency judgment against you.

Short Sales - We can work with the realtor and lender to do a short sale which may be in your best interest.  Short sales operate by selling the property when the amount of the mortgage is more than the sale price of the property.  One important consideration is whether the lender will seek to obtain a deficiency judgment against you.  The use of short sale may not result in lower credit score as if your property was foreclosed. 

Deed in Lieu of Foreclosure - Like a short sale, we can work with the lender to do a deed in lieu of foreclosure.  Again, a crucial consideration is whether the lender will seek to obtain a deficiency judgment against you.  The use of a deed in lieu of foreclosure is another mechanism to avoid damage to your credit score.

Affordable Mortgage Loan Modification - Whether you are receiving letters threatening foreclosure or a petition for foreclosure from the lender, you may be able to qualify for affordable mortgage loan modification.  Qualifying for a loan modification is a complex process; A process our office is familiar and a process we can navigate you through.

Mortgage Foreclosure Defense - Among other options, we can file an answer to delay the time needed for the lender to obtain a judgment for mortgage foreclosure on your property and look for any error or mistake in the documents that will allow you more time to seek alternate solution to foreclosure. 

Real Estate Bankruptcy - Bankruptcy is another option that can be used to delay foreclosure action.  Additionally, owners facing threat of foreclosure or other action often have substantial debts to the IRS and or State that may be resolved via bankruptcy