As a realtor you have people in your community and clients that have come to you with mortgages that they cannot afford. Many people need to get out of their mortgages. They simply can’t afford the home, and need to get out from under the mortgage. Many times in these scenarios, foreclosures are imminent.
In most cases a short sale is a better solution than a foreclosure. A short sale is when the lender agrees to accept less than they are owed for an outstanding mortgage loan. A bank would much rather agree to a short sale than to foreclose on a home.
A real estate attorney, in this case is a perfect referral for these types of clients. Black and Buono works with realtors and lenders to facilitate the sale of a home rather than allow your client to face foreclosure.
When you clients’ home is worth less than they owe, do they let it go to foreclosure? No. Let your client work with a real estate attorney to negotiate with the bank for a short sale. Contact us.