· Pre-Foreclosure Consultation;
· Protection of Homeowners In Foreclosure Act;
· Loss Mitigation/Short Sales;
Pre-Foreclosure Related Services
Today many property owners are facing financial difficulties which, in some cases, may lead to mortgage default and the threat of foreclosure. These unfortunate events have led many States to enact different laws to regulate this troubled part of the real estate market. The Law Firm of Jeffrey P. Shiller PA can assist you with a wide array of legal services related to these types of real estate transactions:
- Pre-Foreclosure Consultation/Loss Mitigation – A property owner facing foreclosure or a lawsuit from the lender needs fast, compassionate and objective counsel in determining his or her legal rights and obligations. If you are facing foreclosure or the threat of foreclosure, or need assistance with a bank loan workout or modification, our legal team will help you examine all your available options and arrive at an educated and well-informed decision about what is best for you.
- Short Sales – A short sale is a sale transaction where the loan amount outstanding on the property is higher than the current market value of the property. Because the bank is trying to “mitigate” its damages, it may be willing to accept a reduced loan payoff rather than taking the property back by foreclosure. There are situations where a short sale will not work, so if you are considering this as an option, it is best to speak with out legal team to determine if you are an appropriate candidate for a short sale. If a short sale is appropriate, we can assist you with gathering the required documentation and submitting your offer to the bank.
- Protection of Homeowner in Foreclosure – Recent years have brought about significant changes in the way buyers and real estate professional may deal with a homeowner under the threat of foreclosure. As a result of abusive “equity skimming” practices by unscrupulous investors, States now place very stringent guidelines on these types of transactions. Buyers and real estate professionals must be extremely cautious about what they say to homeowners, what services they perform for homeowners, and how they document and close these types of deals. This is a complex and dangerous area of the law and if you violate it, you could be staring down the barrel of a criminal conviction, a private party lawsuit, or the loss of your professional license. If you are thinking about getting involved in any way with one of these transactions, contact us to help you negotiate, document and close on your deal in a legally compliant manner.
Click Here to read more about our services in this area of the law
