Pima County, Arizona, Bankruptcy Law Attorney
If you are considering short selling your house as an alternative to foreclosure, it is important to know that it is not your only alternative. Filing bankruptcy makes the short sale unnecessary. Essentially, all you are doing by going through with the short sale is making money for the real estate agent and giving yourself a lot of stress. There is no need. Bankruptcy stops the foreclosure process immediately, allowing you the time you need to regroup and catch up on your house payments, or to sell your house on your own terms.
At the Arizona Law Group of Trezza & Associates, we will help you deal with foreclosure without having to deal with the stress of a short sale. Contact us to set up a consultation with one of our attorneys.
What Is a Short Sale?
A short sale is when a lender agrees to allow the homeowner to sell a house for less than the amount due on the home loan. Not all lenders will allow short sales, also known as discounted payoffs. Furthermore, it is important for homeowners to make certain the lender will not hold them accountable for the difference between what they owe and what they sell the home for. This is only one of the elements that make short sales so challenging.
Bankruptcy and Short Sales
Some people who are going to file bankruptcy think they should do a short sale because it will look better on their credit than a foreclosure. Realistically, this is not the case. Rebuilding credit from bankruptcy is the same with or without a short sale. A short sale is not going to be particularly beneficial.
Contact Us to Learn More About Short Sales and Foreclosure
Every case is different, so it is important to discuss your situation with a Tucson short sales attorney before making a decision. Contact us to discuss your options.
