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Short Sales and Deed in Lieu of Foreclosure

Arizona Foreclosure Defense Attorney

A "short sale" is a legal option that allows a mortgage lender to take a property back from the homeowner for less than the amount that is still 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. File Chapter 7 bankruptcy and keep your house.

We are the bankruptcy and debt relief attorneys of Clark Law Offices, in Phoenix and Tucson, 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. We 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. 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 heads.

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

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:

Staying in your home is important. Don't give it up.

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.