Get the Information You Need About Short Sales
It wasn't so long ago that short sales were incredibly rare, because housing prices seemed to never go down. Even if you purchased a home and refinanced to get fast cash, most people only saw their property values go up. We know now that it was all a short term illusion, and the reality of the housing market has put millions of people in the position of owing more on their home than that home is worth.
At the Law Offices of Farnsworth Mortensen, PLLC, in Tucson and Mesa, we help clients solve complex financial and real estate problems so they can get back on track toward a sound future. We are more than bankruptcy lawyers. We are advocates, advisors and educators. We know that when you are dealing with serious financial pressures, getting the advice you need is vital. We make sure you have all the facts.
Is a Short Sale Right for You?
If you are considering a short sale, or even being pushed into one by a lender or financial predator, be sure you know all the facts. There are situations where a short sale makes sense for a family or individual in crisis, but there are things you need to know and consider before you make that decision:
- You may still be held responsible for remaining debt following a short sale.
- Arizona has anti-deficiency laws that may protect you that you need to know about.
- There are other options to foreclosure besides a short sale.
- You can lose a lot of the money you put into your home by short selling.
- Short sales may impact your credit.
- Your lender may not agree to a short sale.
Using the tools provided under bankruptcy is an equally difficult choice, but before you make a decision either way, make sure you talk to a professional who can make you aware of all options open to you. The best decisions are made when you have all the facts and work with a lawyer or professional whose first priority is to make sure you get those facts.
Before You Act on a Short Sale, Know Your Options
At the Law Offices of Farnsworth Mortensen, PLLC, we provide a staff of attorneys, paralegals and support staff who have worked together for years, and in some cases decades, to help Arizona families get the facts and support they need to protect their home, their finances and their future. It costs nothing to schedule a free initial consultation by contacting our attorneys online or calling 480-820-3600 or 520-298-3300.
