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TRUSTED NEW
YORK SHORT SALE ATTORNEY

NYC ATTORNEY CONTACT REQUEST

Stop the threatening calls. Let’s get things settled and on the way to recovery.

A short sale is a real estate transaction where the homeowner sells the property for less than it is worth, usually to avoid foreclosure. If you are in this position, an experienced short sale attorney can guide you through the process, give you sound legal advice, and advocate on your behalf to ensure that your interests are protected.

At Moshes Law, we understand that clients considering a short sale are in a diffcult situation. Our compassionate attorneys provide you with the information you need to make the best decision for your unique circumstances.

DON'T FORECLOSE.

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BEFORE YOU CALL: ARE YOU QUALIFIED FOR A SHORT SALE?

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A short sale is not the right solution for everyone. First, the buyer must be an individual or entity other than the mortgage lender. After the sale, the lender receives the full amount of the sale and then decides whether or not to forgive the balance on the loan.

Short sales are for homeowners who:

  • Fear falling behind on mortgage payments;
  • Have missed at least one mortgage payment;
  • Are in danger of losing their home to foreclosure;
  • Owe more than the home is worth; and
  • Do not qualify for other forms of relief

You may be denied a short sale if the offer price is too low (that is, the lender could recoup more money through foreclosure proceedings), you have other taxable assets whose sale could go toward mortgage payment shortfalls, you don’t provide necessary hardship documentation, or, unbeknownst to you or your representative, your loan has been acquired by a new lender.

NYC ATTORNEY CONTACT REQUEST

ABOUT SHORT SALES IN NYC.

The details of short sales in NYC vary depending on the seller’s situation.

HERE’S WHAT USUALLY HAPPENS:

  • The homeowner experiences financial difficulties and falls behind on his or her mortgage payments due to unforeseen circumstances.
  • The homeowner carefully assesses his or her financial situation and options for avoiding foreclosure.
  • The homeowner consults an authorized representative for his or her lender regarding a potential short sale.
  • The homeowner carefully assesses his or her financial situation and options for avoiding foreclosure.
  • If the homeowner decides to pursue this option, he or she sets the sale price.
  • The homeowner finds a willing buyer.
  • The homeowner submits a proposal, including all relevant information, to the lender.
  • The lender decides whether to allow the short sale.
  • If all goes well, the real estate transaction goes through.
  • The parties to the transaction wrap up any loose ends.

THE ROLE OF A SHORT SALE LAWYER.

If you are an individual homeowner considering a short sale, being represented by an attorney from a reputable law firm is essential. After all, your lender undoubtedly has an entire legal team at its disposal. Having your own attorney who knows about short sales levels the playing field.
Among other things, hiring a lawyer creates an attorney-client relationship. Once this relationship is established, the attorney has a fiduciary duty to you. This means he or she must act in your best interest.
Furthermore, there is an important distinction between real estate agents and New York short sale attorneys in this context. A real estate agent can help you with certain aspects of a short sale. However, he or she is prohibited from giving you any legal advice unless he or she is also a licensed attorney. On the other hand, as New York short sale attorneys, we must provide the legal advice and guidance you need to make a fully informed decision about a New York short sale.

Additionally, your short sale lawyer provides:

RELEASE-OF-PERSONAL-LIABILITY

RELEASE OF PERSONAL LIABILITY

There is no guarantee that lenders will forgive the remaining balance of the debt after the sale; as your attorneys, however, we ensure that any contract or agreement has provisions addressing this possibility.

PEACE-OF-MIND

PEACE OF MIND

We appreciate the stress our clients are going through. That’s we provide full support and take care of all correspondence. With us, you can rest assured that your sale is in expert hands.

Moshes Law Firm

ADVICE IN DEFICIENCY JUDGMENTS

In some cases, the lender will seek a deficiency judgment, or a court order for the seller to repay the balance of the loan. Our law firm will provide the representation you need if this situation pertains to your short sale.

LET US DO THE TALKING.

Call us, we can help.

FAQs

HOW LONG CAN A HOUSE STAY IN A SHORT SALE?

A short sale transaction is usually a drawn-out process that can sometimes take up to a 3-6 months to complete.

HOW DO YOU NEGOTIATE A SHORT SALE PRICE?

We take all pertinent factors into consideration, including the amount you need (as the homeowner), applicable deductions, and market conditions.

DO YOU NEED A LAWYER TO BUY A SHORT SALE?

Not necessarily, but it is always prudent to consult with legal and financial professionals, given the complexity of the process.

WHO PAYS THE LAWYER IN A SHORT SALE?

The bank pays for the legal fees.

WHO PAYS THE REAL ESTATE AGENT IN A SHORT SALE?

The bank also pays the real estate agents.

DOES A SHORT SALE HURT YOUR CREDIT?

Yes, but not as much as a foreclosure does.

HIRING A LAWYER TO NEGOTIATE YOUR NEW YORK SHORT SALE.

For homeowners experiencing financial hardship, deciding to go through a short sale is a serious matter. Someone in this situation needs a short sale attorney who is familiar not only with relevant New York laws, but also with the frequent changes to them.

Our attorneys also make sure our clients have all of the details and support they need to make fully informed decisions. If you’re asking, “is a short sale right for me,”
contact our law offices for a free consultation today.

BANKS KNOW US.

Let us be there for you.

LET US HOLD YOUR HAND THROUGH THIS PROCESS. WE CAN HELP.

Get to know your Short Sale Attorneys

Yuriy-Moshes

Yuriy
Moshes, Esq.

Widely recognized as a top New York City real estate attorney with a wide network of connections and a reputation for navigating legal matters to satisfaction for his clients.

 

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Gennady-Litvin

Gennady
Litvin, Esq.

Managing Attorney with extensive experience in real estate matters, including foreclosure defense, short sales, real estate closings, and bank representation. Widely recognized in real estate circles for his comprehensive knowledge of the industry and his ability to provide exceptional legal representation.
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    Disclaimer:

    THE INFORMATION CONTAINED HEREIN IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY, AND SHOULD NOT BE CONSTRUED AS LEGAL ADVICE ON ANY SUBJECT MATTER. THIS INFORMATION DOES NOT CREATE AN ATTORNEY-CLIENT RELATIONSHIP AND IS NOT PROTECTED BY ATTORNEY-CLIENT PRIVILEGE. PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME.