What is a Short Sale?

A short sale is the sale of the property in which your lender agrees to accept less than you owe. A short sale is almost always more favorable than foreclosure or Deed in Lieu of Foreclosure and may prevent the need to file bankruptcy if your mortgage debt is your primary concern.

Why Vannova Legal

Vannova Legal negotiates single and multi-family residential short sales at no cost to the homeowner. We also support the U.S. Treasury Department’s HAFA program for participating lenders and qualifying loans. We have negotiated hundreds of short sales nationwide and understand how to work with the banks. Whether you need to stop foreclosure or are seeking a strategic alternative to resolve your negative equity, trust Vannova to provide a proven, legal means to satisfy your mortgage debt without a deficiency obligation, address tax implications, and protect your credit rating.

The banks have attorneys and they are not looking out for you. Trust the attorneys at Vannova Legal to negotiate in your best interest. If you are facing foreclosure, we monitor your sale date and provide you with alternatives in the event the bank is not cooperative with the short sale. We handle all of the communicate with the lender and counsel you accordingly. You can pursue a short sale at no cost and remain positioned to explore other options in the event the lender does not agree to a short sale or provides short sale terms that are unacceptable to you.

Benefits of a Short Sale

An attorney protected short sale is often the best alternative for property owners who have little or no equity in the property or have limited financial resources for other alternatives. Short sales are less damaging to your credit than a foreclosure or bankruptcy. A short sale also gives the attorney an opportunity to negotiate the release of all of your debt secured by the home. It is always our primary objective to negotiate with the bank to waive any deficiency in full.

Don’t Walk Away

A short sale is almost always preferable to foreclosure.

You can cancel at any time if the short sale is not in your best interest or you decide to pursue a broader legal strategy.