When a homeowner owes more than the house is worth, the loan is referred to as being “upside-down” or “under water”. A short sale (selling a property for less than what is owed to the bank) may offer advantages to both owners and lenders. Sellers should be aware, however, that lenders do not always accept short sales and that the process can take longer than a conventional sale. Navigating a short sale is much easier with the assistance of an experienced real estate lawyer.
At The Schwartz Law Firm, in Las Vegas, Nevada, we help clients undertake and complete short sales. We help them understand why a short sale may be preferable to a foreclosure or a deed in lieu of foreclosure. Because our founding attorney is also a licensed real estate broker, our law firm is well positioned to guide people through the process from listing to closing.
Our attorneys can provide the following services to a client seeking relief from a mortgage that is no longer affordable:
In addition to managing the short sale process, our lawyers will the draft hardship letters lenders require to document the need for a short sale. Hardship letters are some of the proof that lenders like to see, which demonstrate that a borrower lacks the resources to pay the mortgage. We also represent clients in the foreclosure process which may in turn lead to a short sale, including prepare a package that includes all required documentation, such as pay stubs and other evidence of hardship.
At The Schwartz Law Firm, we will assess your unique financial situation, ask the right questions and explain the legal and financial alternatives available in clear and understandable language. Contact us to learn how we can help with mortgage default and short sales.
We have Spanish-speaking staff to assist those who communicate best in Spanish.
"Since the first day we met you, you have taken the pressure from us and guided us through this whole foreign process. Sam and Brian are wonderful and I think that trickles down into the rest of the office staff. I cannot say enough about your law firm and the people in it!!! You were right about everything. Brian was so on it yesterday. I was saying a little prayer the whole time but he is wonderful as well and reassured us everything was going to be ok. He just guided us along, so we knew what to expect."
- Shawn R.
"Schwartz Law firm did an incredible job of handling the sale of our home. They handled our biggest fear of managing the negotiation with the big bank, and simplified what could have been a frightening process for our family. Without their help, I do not believe we would have been able to negotiate the sale of our house in this economic environment. No one should try a workout directly with a bank without their help."
- Bob D.
"I just wanted to say THANK YOU for all of your hard work, organization and vast knowledge in helping us with our bankruptcy. I know we are not completely done yet but I did not want you to go on leave without letting you know what a wonderful help you have been. You are so calm and patient and make us feel like we are the only client you are working on. Your whole office is incredible."
- Shawna R.