Short sales

Short sales are a way for homeowners to avoid foreclosure in New York. However, it is best to consult with an experienced attorney to review the advantages and disadvantages of a short sale. A short sale may help you avoid a foreclosure, but it is a considerable loss to sell your most valuable asset at a cost that is below market value.

Sometimes, while a short sale is an option, it may not be the best option. Consult with an attorney to determine the optimum course of action for your particular situation. In some cases, a bankruptcy can be filed that will allow you to keep your home and provide you with some extra time to re-orient your finances.

Another factor to consider in a short sale is that you will be responsible for paying taxes on the deficient portion of your loan, something that is a non-issue during a foreclosure or a bankruptcy. These are things to consider with a legal professional like Attorney Schneider before making any decisions.

Contact The Law Offices of Scott R. Schneider today

For assistance with New York bankruptcy, foreclosure or debt resolution of any kind, contact The Law Offices of Scott R. Schneider today.