Bankruptcy Questions
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What is a Short Sale?
WEST PALM BEACH SHORT SALE LAWYER
In today's 2024 economy, many people cannot meet their house payments and are losing their homes in West Palm Beach to foreclosure. At the Walker Law Firm, P.A., we feel that individuals should know they do not have to surrender their home just because the lender has given them a foreclosure notice. You can explore your options and determine what needs to be done for you to save your home prior to the foreclosure actually occurring.
Since foreclosures have strict time deadlines, it is imperative that you hire a West Palm Beach bankruptcy lawyer from the Walker Law Firm, P.A. Our bankruptcy attorney can review your mortgage agreement and determine what legal avenues are open to you. Do not lose hope or your home—contact a lawyer from my firm as soon as possible.
WHAT IS A WEST PALM BEACH SHORT SALE?
Depending on the individual, a person who is facing foreclosure may have the opportunity to short sale their home. A short sale is when a property is sold for less than the amount owed and the lender agrees to forgive the difference. An individual may qualify for a short sale when:
- They are ineligible to refinance or modify their mortgage
- They are facing long-term or permanent hardships
- They are behind on their mortgage payments
- They owe more on their house than it is actually worth
- They cannot sell their home at the price that pays off the mortgage
- They can no longer afford their home and need to leave
When arranging a short sale agreement, it is important that you are represented by legal counsel, as the legal and financial jargon can be complicated and difficult to understand without a West Palm Beach bankruptcy attorney's assistance. You want to be certain that you fully understand all of your obligations in this matter prior to signing any paperwork. Without legal counsel to protect your interests, you could face owing the shortfall between the selling price and the original mortgaged amount.
CONTACT A WEST PALM BEACH BANKRUPTCY LAWYER
A person may also be able to save their home via filing for bankruptcy. Chapter 13 bankruptcy, for example, can be an effective way of ending a foreclosure proceeding while allowing you time to make up delinquent payments so you can keep your home. By working with a respected short sale lawyer, you can safeguard both your future and your home. Lenders do not always follow the rules, and if you suspect that someone from your mortgage company is causing you to miss or pay the incorrect mortgage payments, it may also be advisable that you seek an experienced bankruptcy lawyer's assistance.
If you discover that there is any fraud or violations of the Truth in Lending Act, you may have a case against your mortgage company. A skilled bankruptcy lawyer at my firm is prepared to answer your questions and help you protect your family, your future, and your house. Call me, Attorney Edwin Walker, for a consultation today (561) 689-1512.
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What I love about using Ed Walker for my closings is that it is always one on one with him! With Ed he always answers all of my questions day or night and happy to speak to all parties involved in the closing of the sale. All of my sellers & Buyers love that Ed Walker comes to us for the closing! I would highly recommend others to use Ed for his services and am thrilled to have him as my closing attorney.