Short Sales and Deed in Lieu of Foreclosure
Arizona Foreclosure Defense Attorney
A "short sale" is a legal option that allows a homeowner to sell real estate to a buyer for an agreed amount that is less than the balance owed on the loan. It is advertised as a means of "helping" a borrower get out from under a high mortgage, without the expense and indignity of filing bankruptcy.
Similarly, a deed in lieu of foreclosure agreement is a similar option that allows a borrower to give the property back to the mortgage lender to avoid losing the property in foreclosure. These options may appear attractive for families that have found themselves over their heads in debt, but there are serious drawbacks.
Don't sell yourself short. Research your options such as Chapter 7 or Chapter 13 bankruptcy or loan modification to keep your house.
We are the bankruptcy and debt relief attorneys of Clark Law Offices in Phoenix, Glendale and Mesa, Arizona. If you are considering accepting a short sale or deed in lieu of foreclosure offer from your lender, please schedule a free consultation with us before you act. Our Phoenix foreclosure defense lawyers will help you understand exactly what your decision will mean to your future. While avoiding bankruptcy may seem like your best option, you may actually be setting up your family for longer-term credit problems.
If we agree that this is your best option, then you will get our honest answer telling you as much. We do not push people toward bankruptcy in our free consultations, we simply present the pros and cons of the options and allow you to make your own decisions.
Did you know that you can "reaffirm" your mortgage when you file Chapter 7 bankruptcy to eliminate all of your credit card and other unsecured debt? That means that your family can avoid foreclosure and get rid of high debt payments, while keeping a roof over your head.
Our lawyers provide a free initial consultation about avoiding foreclosure
We accept all major credit cards and payment plans are available
Conveniently located just south of the Biltmore, just minutes from Hwy 51, in Glendale and Mesa
Even by trying to do the right thing by giving your house back in a short sale or deed in lieu of deal, your credit rating will still be affected, and you will still have all of your credit card and other debt to pay off. There may also be huge tax consequences. After you file bankruptcy, you may be able to keep your house and car, eliminate your debt, and still rebuild your credit over a short period of time.
To learn more about our debt relief services, please visit these pages:
- Chapter 13 bankruptcy to reorganize debt
- Chapter 7 bankruptcy eliminate debt
- Debt settlement plans
- New bankruptcy laws
- Senior citizens and bankruptcy
Staying in your home is important. Don't give it up without exploring all your options.
Contact Our Arizona Bankruptcy Lawyers For Help With Short Sales
If you are facing foreclosure, think before you act. See us for a free consultation about how we can help. We believe that staying in your home is one of the most important ways to protect your family's financial future. We won't judge you. We are here to help. Contact us today.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
