If you’re reading this, there is a chance that you’re frustrated and perhaps frightened by the fact that you are struggling financially and could lose your home to foreclosure. The fear is not unfounded – one in every 662 Florida homes is foreclosed upon every year, according to data reported by RealtyTrac. Instead of risking the damage that a foreclosure can cause to your credit history, seek out assistance in securing a short sale of your home. Foreclosures generally occur after homeowners struggle for months to catch up on mortgage payments. Whether it’s a medical emergency, divorce, job loss or other circumstances that cause a financial crisis, it happens too often. The mortgage company is blind to the reasons you are struggling. What they do see is how long you’ve failed to pay you’re monthly bill, and they will take action against you. The vast majority of mortgage companies are simply in the business of lending money for purchasing a home and charging interest on that loan. They aren’t in the business of selling homes, which is why they don’t want to foreclose on you. They don’t want to go through the process of retaining an attorney to file a lawsuit against you because it costs them money. They also face the risk of losing money if the home doesn’t sell for the right price. For these reasons and others, the short sale becomes an option that mortgage companies find more attractive than foreclosing. It’s also something that can benefit the struggling homeowner. Perhaps you’ve already put your home on the market in an attempt to get out from underneath the mortgage, and maybe even to gain a little profit from the sale. Since you’re already upside down on your mortgage, meaning, you owe more than the house is worth, this best-case scenario rarely occurs. Furthermore, there are a few roadblocks that stand in your way, namely your lender, unless you have a buyer in place with an excellent offer a large deposit to go with it. The short sale process involves gaining permission from your mortgage company to accept less than what is owed on the mortgage to take care of the lien against your property. The end result is that the title is signed over to the new owner free of liens. We just made that sound quite easy, but it isn’t. For this reason, you should bring in a licensed attorney with experience in short sales to assist you. Your attorney will help you move forward in a faster and smoother manner, giving you the opportunity to steer clear of foreclosure. From getting the authorization letter to crafting a hardship letter, your attorney should be fully capable of handling these matters for you. They should arrange the statement regarding the value of property, and provide a settlement statement, which includes the proposed price of the property and details about how much money the lender will wind up with on closing. At Szabo Law Group, we know the complexities involved in a short sale and we’re ready to assist you with your short sale. We don’t want our clients to suffer the complications and damage that a foreclosure can inflict upon them. We know that lenders are willing to work through a short sale process, and they prefer to work with knowledgeable attorneys to get the job done efficiently. If you’re in a pinch and need assistance, contact us today and we’ll discuss your situation.