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Short Sale

What is a Short Sale?

A short sale is an agreement with the lender to allow the homeowner(s) to sell their property for less than the amount necessary to pay off the lender's mortgage in full. In a short sale, it is important to make sure the lender also agrees to write off any remaining debt still owed by the homeowner(s) on the underlying mortgage.

Who Should Consider a Short Sale?

Although a short sale is a viable way to avoid foreclosure, it is not for everyone. A short sale is only for those homeowners who have fallen behind on their mortgage payments and are okay with giving up their home. Although relinquishing property rights is a difficult thing to do, in doing so you will no longer be threatened with foreclosure and the stress and anxiety that comes with it.

You should not be ashamed or embarrassed about considering a short sale. With the economy as volatile as it is, countless homeowners throughout New Jersey and across the country have had to make the same difficult decision you are facing today.

Need a lawyer for a short sale in Hackensack, NJ?

If you are being threatened with foreclosure, it is important to schedule a free consultation with an attorney experienced in personal bankruptcies, as well as, short sales, foreclosure defense and mortgage loan modifications as soon as possible. Call or contact us today to learn more about which debt relief option is best for you.

The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.

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The Law Office of Marc G. Alster - Hackensack Bankruptcy Attorney
Located at 2 University Plaza Drive, #311, Hackensack, NJ 07601.
Phone: (201) 878-4630.
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