Truth About Short Sales

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Truth About Short Sales

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Understanding the Truth About Short Sales | San Diego Attorney | Mission Valley Attorney 

Avoiding More Trouble. Avoiding Short Sales.

Short sales may seem like a promising option for homeowners who want to avoid foreclosure. A bank may even agree to sell the property at a loss. However, while the bank and realtor receive some benefits — they do not have to pay large foreclosure fees — the short sale process rarely benefits homeowners. It only accelerates the time the homeowner has to move out.

As an experienced bankruptcy and foreclosure lawyer, D.J. Rausa has helped clients find workable debt relief solutions for more over 20 years. He has a clear understanding of the options available to clients who risk losing their homes. Before the mortgage company talks you into a foreclosure or short sale, talk to him to learn the truth about short sales.

The Dangers of Short Sales

The short sale process can be very frustrating. Mortgage companies have a variety of requirements, including requiring extensive financial disclosures. Furthermore, they often lack the key personnel and decision-makers to authorize a short sale, which slows down the process. Other short sale dangers include:

  • Serious tax consequences: California taxes homeowners on the debt they lose by getting rid of their homes.
  • Fees and costs: You may have to pay fees and costs related to your home's sale.
  • Foreclosure: The short sale does not stop or suspend the foreclosure process, absent voluntary suspension by the mortgage company.
  • Mortgage company disagreements: If there are two mortgages involved in a short sale, one mortgage company may agree to it while the other may not.
  • Misinformation from real estate agents: Most real estate agents are not well-trained in short sales and fail to advise their clients correctly.

Finally, if the short sale process goes through and you encounter problems, it will be too late to get relief through Chapter 7 or Chapter 13 bankruptcy.

Engage a Lawyer Early

The best way to prevent problems is to engage an attorney early in the process. Attorney Rausa will ensure that your rights are protected and that you avoid any negative ramifications from the sale of your home. He provides mortgage advice and will discuss all potential options, including strategic foreclosure or bankruptcy.

Contact a Mission Valley, CA, Mortgage Advice Lawyer

Learn the truth about short sales and home foreclosure. Call D.J. Rausa toll free at (619)295-3322 to schedule a free initial consultation with an experienced San Diego home foreclosure lawyer. Consultations are available by appointment during regular business hours. Evening and Saturday appointments are also available.

Free Initial Consultations * Available Evening and Weekend Appointments

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D.J. Rausa

With over 21 years of experience as a consumer bankruptcy attorney, D.J. Rausa stays on the cutting edge of Bankruptcy and Student Loan Law which enables him to provide vital information to his clients.

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Thank you DJ!

I had no idea where to start with my bankruptcy and process. After my first meeting with DJ I felt confident that things were going to go well. He helped guide me through the entire process and time. 

He's very professional and courteous, thorough and extremely knowledgeable. 

I would recommend anyone that needs a bankruptcy lawyer/ student loans. 

Don't have a second thought when choosing DJ Rausa!

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Posted by a client - February 15, 2016

AVVO Lawyer Rating is Superb!

Respected Legal Source

D.J. Rausa interviewed by the Wall Street Journal for article on Bankruptcy and Student Loan Debt.

D.J. Rausa is recognized as a legal expert in Student Loan Debt Resolution and the associated Bankruptcy Laws.

Read what D.J. recently told The Wall Street Journal regarding the probable rise in Student Loan Debt Resolution through Bankruptcy.

Client Testimonial

To whom it may concern,
Mr. Rausa is extremely knowledgeable with the complexities of Federal Student Loans.
I went from a thriving career to full medical disability, ending with an SSDI placement. Unfortunately, I lost everything and became unable to continue making the student loan payments, so it was in deferment for over five years. When the SSDI settled I tried to negotiate an affordable payment plan with the loan holders but they refused my efforts, instead demanding over twice the amount I could afford.
I contacted Mr. Rausa and found him to be courteous, responsive and quick to assess my situation. He was sure he could help and took time to answer all questions, which relieved much anxiety. Within months he successfully resolved the debt! With much confidence, I highly recommend Mr. Rausa.
Please contact me if you have any additional questions.
Sincerely,
 CJWaldenSignature
CJW
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