Learn More About How a Short Sale Could Be in Your Best Interests.
There Is a Lot of Misinformation about Short Sales. Get the Facts.
Do you need to sell your home, but are underwater on your loan amount? Do you face foreclosure?
At the Southern California law firm of Sobti Law Group, we can answer your questions and provide the informed guidance you need regarding selling or retaining your home.
Why Is a Short Sale Better Than Walking Away?
Walking away from a home is tempting. It's easier in the short term, and it works. If you walk away, you can eventually become free of your property.
This ease comes at a cost, though. For instance, if you go through the process of foreclosure:
- Your credit will take a strong hit.
- You will be unable to buy another home for at least three years.
A short sale offers advantages over walking away. For example:
- When you work with your bank to arrange a short sale, the transaction will be appear as a settled transaction on your credit report, so that your credit is less affected.
- Lending guidelines usually allow a short seller to buy a new house in just six months, not the three-year waiting period usually required following a foreclosure.
Bankruptcy May Save You Even More Money.
While a short sale can protect your interests, Chapter 7 and Chapter 13 bankruptcy may be even more advantageous. Bankruptcy can protect your home, your savings and your income. For more information, contact us at our Beaumont, Corona, Riverside, San Bernardino, Chino, Orange, Rancho Cucamonga or Palm Springs office.
Contact an Attorney
The Orange short sale lawyers of Sobti Law Group offer free consultations, are available for Saturday appointments by request, and speak English and Spanish as well as Armenian, Russian, Arabic, Persian, Hindi and Punjabi. To contact Sobti Law Group or U.S. Law Center, call 888-627-8013.
