How Can A Ft. Lauderdale Bankruptcy Lawyer Help You

A short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold. In a short sale, the bank agrees to discount a loan balance because of an economic or financial hardship on the part of the owner.

The home owner will attempt to sell the property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender. Many lenders will agree to accept the proceeds of a short sale and may forgive or be willing to negotiate on the rest of what is owed on the mortgage. In such instances, the lender would have the right to approve or disapprove of a proposed sale.

Negotiating a Short Sale with the lender can be a lengthy and difficult process. The lender may require a written contract with you and the buyer, a HUD-1 or settlement statement of the sale, a buyer assurance letter stating the potential buyer is approved for the new loan, proof that the house has been on the market for a period of time with a Real Estate Agent and financial information from you. In this case, a great Ft.Lauderdale bankruptcy lawyer is of big help.

Many short sales fall through for a number of reasons. We can successfully negotiate short sales for many home owners and we know what documentation the lender needs for approval and in what order.

Winston I Cuenant, Esq., is a great Ft. Lauderdale bankruptcylawyer who can help filing for bankruptcy. Mr. Cuenant areas of expertise include GeneralCivil litigation attorney Fort Lauderdale, French speaking lawyer, Fort Lauderdale bankruptcy attorney, Foreclosure defense lawyer Fort Lauderdale, Fort Lauderdale Real Estate Litigation attorney and Bankruptcy Law FortLauderdale.

For more info please Contact Our Office +19547664271 begin_of_the_skype_highlighting            +19547664271      end_of_the_skype_highlighting for FREE Consultation or visit us on http://cuenantlaw.com/