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Short Sale Update

There is enough evidence in the current real estate market to prove that banks are now more comfortable with short sale negotiations with underwater home loans. It is important to note that this does not mean they will stop your foreclosure sale under any conditions. Usually, a bank or mortgage company will need a sufficient amount of time (which varies with each bank) to approve you for a short sale negotiation. The banks can also limit the amount of time you have to get a short sale approval accepted (also varies by bank). If you are facing a foreclosure sale or trustee sale, you can make certain that your sale date has been postponed to get you the time you need to short sell your home by using your rights under bankruptcy protection. Bankruptcy Law Pros has helped many clients to get the time they need to short sell their home. If you have exhausted all your options to renegotiate your loan and have decided to enter into a short sale negotiation with your bank, consider bankruptcy to help cure your outstanding debts and get yourself more time to negotiate with your bank towards a short sale. We have real estate agents that we can refer you to and will work in conjunction with the real estate agent to make sure you have enough time to short sell your home. We can communicate with the real estate agent and also get authorization for the banks to communicate with you and your real estate agent through the bankruptcy process so you can move forward with your short sale negotiation. It make take several offers to get a short sale accepted by the bank and bankruptcy protection may allow you the time you need to lead to a successful short sale negotiation.

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