At Brian Kowal Law in Florida, we offer a wealth of knowledge in short sales and foreclosures. We offer complimentary legal counsel to homeowners who are looking for a legal and honorable solution to sell or maintain their property. Many options can include conducting a short sale,foreclosure defense, deeds in lieu of foreclosure, and mortgage loan modification.
In these uncertain times for home or property owners, your legal team at Brian Kowal Law will be a constant advocate and help in the midst of your foreclosure, halting the process and rallying and guiding you through it all. Short sales in Florida have become an effective option. Initially, you will need a Realtor well educated in the short sale process who will obtain the fair market value of your property and list it accordingly.
A short sale is when the home is sold for less than the mortgage amount owed to the financial lender. Short sales can be categorized in two ways; sales with deficiency balances and sales without.Deficiency is the dollar value difference between the mortgage and the short sale price. So, by example, if you had a $200,000 short sale on a $300,000 mortgage, the deficiency amount would be $100,000. A properly conducted short sale leaves no deficiency, an improperly conducted short sale; however, it leaves deficiency. For a few years, lenders were not attempting to collect deficiency balances. Today, however, deficiency balances are often sold to debt collectors who are aggressively pursuing these amounts. Realtors frequently negotiate short sales. Unfortunately, relators only tool to avoid deficiency, and their only goal is to sell the home. Most times, realtors short sales occur with deficiency, I get calls from sellers in this position frequently.
Short saleLawyers FLhas many tools to avoid a deficiency, and most importantly, their only aim is to eliminate the deficiency. The process is a lengthy one for negotiating with banks to accept the short sale price. It typically takes 40 to 50 hours to negotiate and close a short sale. Having the right short sale lawyers, FL is important, and at Brian Kowal Law, we are the experienced choice in Florida Real Estate law. In the case of a short sale,finality is the benefit for the homeowner. Once the sale is complete and the bank accepts the terms, it’s over. We also represent borrowers in the negation of post-judgment and short sale deficiency liability against financial lender sand third-party debt collectors.
