Close Menu

Is a short sale better than foreclosure?

By Florida Law Advisers, P.A. |

Yes, in many respects a short sale is less harmful than having a foreclosure on your credit report. However, each lender will have their own underwriting guidelines and view short sales/foreclosure differently. Therefore, you should inquire about your bank’s specific rules regarding short sale. You should also confer with your accountant, as there may… Read More »

Facebook Twitter LinkedIn

What is a short sale?

By Florida Law Advisers, P.A. |

In a short sale, the homeowner and mortgage company agree to sell the home for less than the amount owed on the mortgage. Short sales may be a good option for homeowners who have no equity in the property and want to abandon the home without going through foreclosure. Neither party can force a… Read More »

Facebook Twitter LinkedIn

Do I owe the bank money after a short sale?

By Florida Law Advisers, P.A. |

Possibly, a short sale does not necessarily remove your liability to the bank for the loan. Even though the bank has agreed to the short sale, they may still hold you responsible for the remaining loan balance. Therefore, you should review the short sale documents to see if the bank is waiving the loan… Read More »

Facebook Twitter LinkedIn

Is a short sale better than bankruptcy?

By Florida Law Advisers, P.A. |

In many respects, bankruptcy is more helpful to homeowners than a short sale. For instance, with bankruptcy you can remove your liability on the loan. On the other hand, a short sale does not necessarily release you from the debt. Additionally, there may be tax consequences, such as a 1099C with a short sale…. Read More »

Facebook Twitter LinkedIn
Get your free 15-minute
consultation*
* Required Field

By submitting this form I acknowledge that contacting Florida Law Advisers, P.A., through this website does not create an attorney-client relationship, and any information I send is not protected by attorney-client privilege.

protected by reCAPTCHA Privacy - Terms
*We offer free consultations for most legal matters.
Bradenton Herald
Worth
The Miami Herald
Newsday
IBTimes
Tampa, Florida
Tampa, Florida
Florida Law Advisers, P.A.

Tampa, Florida
1120 E Kennedy Blvd, Unit 231
Tampa, FL 33602
Phone: (800) 990-7763

Orlando, Florida
Tampa, Florida
Florida Law Advisers, P.A.

Orlando, Florida
111 N Orange Ave, Suite 800
Orlando, FL 32801
Phone: (800) 990-7763

Dade City, Florida
Tampa, Florida
Florida Law Advisers, P.A.

Dade City, Florida
38100 Meridian Ave
Dade City, FL 33525
Phone: (800) 990-7763