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Short Selling and Deed in lieu of foreclosure
Short Selling is simple to understand – you negotiate to sell your property with your lender for less than what you owe so you don’t have to go through foreclosure. The goal is to have the lender accept a discounted amount from a new buyer and forgive you the remaining amount owed in the loan. The process can get a little complicated though, but that’s why we’re here to give you the best advice and help you get the best deal possible.
We offer two ways to help you on a Short Sale:
- Up to 2 hours consulting with an Attorney
- Legal Protections
- Can they get other assets? How can I protect them?
- Can they obtain a deficiency judgment?
- Can I transfer my assets to a friend or family member to avoid having it taken away by my lender?
- Tax Ramifications
- How do I avoid forgiveness of debt income?
- The Attorney will give you the verbiage you need for a hardship letter
- From there you’ll mail the hardship letter and negotiate with your lender
- This option is available in all 50 states
Basic Service – Everything you need to get started and do it yourself.
What if I want a loan audit as well?
- Consult with an Attorney for as long as needed
- Legal Protections
- Can they get other assets? How can I protect them?
- Can they obtain a deficiency judgment?
- Can I transfer my assets to a friend or family member to avoid having it taken away by my lender?
- Tax Ramifications
- How do I avoid forgiveness of debt income?
- We will file your hardship letter on KKO Lawyers letterhead
- We will negotiate with your lender to obtain a short sale payoff
- We will audit you loan documents for compliance with:
- The Truth in Lending Act (TILA)
- The Real Estate Settlement Procedures Act (RESPA)
- Federal Laws and other applicable laws
- Refund is available in some situations (ask for our refund policy)
- Available for clients and property in California, Utah and Nevada
