Advantages of a Short Sale

Your credit score will likely drop if you have fallen behind on your mortgage payments. However, there are ways to avoid a score from plummeting to the bottom. Many people who are experiencing these difficulties will choose to do a short sale and avoid the consequences of a foreclosure.

For more information about the benefits of a short sale, contact a Maryland short sale attorney at Chaifetz & Coyle, P.C. Call today at 443-546-4608 to speak to a legal professional.

Understanding the Benefits of a Short Sale

A short sale involves selling your house for less than the current amount of your mortgage. If your lender allows this type of sale, you will experience the following advantages:

• Buy a home in two years – If financially responsibility is shown, the lender Fannie Mae may allow you to obtain another mortgage in two years. This is drastically less time than is required for a foreclosure, which may take between 5 and 7 years.
• You sell your home – Selling your home through a short sale may lessen the negative effects a foreclosure can have on your pride.
• No mortgage payments – After a short sale, you will not have the heavy burden of expensive mortgage payments.

Contact Us

If you are facing foreclosure and are interested in a short sale, it is important to speak with a Maryland short sale attorney as soon as possible. Contact an experienced lawyer from Chaifetz & Coyle, P.C., today at 443-546-4608 to learn more during a free consultation.