Question: If a property has an order to be
foreclosed on, can the owner still do a
short sale?
Response: Essentially, the answer is
yes but only if the bank agrees to put
foreclosure on hold and the only way they will
likely do that is if you send a contract of sale and a
listing agreement. Once the bank receives it and starts
reviewing it, they will then ask for additional
documents but in the meantime, that is a way to stop the
foreclosure sale.
As a New York State
Licensed Real Estate Broker, Attorney Svetlana Kaplun
has the expertise to assist interested homeowners in all
steps of the
short sale process including: bank negotiation and
short sale approval, property listing and sale.
In the legal blog, Attorney Svetlana Kaplun addresses typical questions our firm has received from our clients, or come across from homeowners related to foreclosure, foreclosure defense, loan modification and bankruptcy topics.
The information contained in the legal blog of Attorney Svetlana Kaplun is for informational purposes only, and should not be construed as a legal advice on any subject matter. Please read our full disclaimer or contact the Law Office of Svetlana Kaplun, P.C. by telephone at 718-444-1115 for more information.
Copyright © 2016 Law Office of Svetlana Kaplun, P.C.
modification,
making home affordable, hamp, mortgage modification, harp refinance,
making homes affordable, modifications, home affordable modification
program, home affordable refinance program, hamp program, home loan
modification, loan modification guidelines, foreclosures, foreclosure
listings, foreclosure homes, mers, foreclosure settlement, foreclosure
homes for sale, free foreclosure listings, foreclosure home, deed in
lieu of foreclosure, foreclosure process, how foreclosure works, home
foreclosure, foreclosure radar, bank foreclosure, home foreclosures,
foreclosure listing, hud foreclosure, foreclosure laws, short sale vs
foreclosure, stop foreclosure, totally free foreclosure home listings,
foreclosure help, free government home foreclosure listing, free listing
foreclosure home sale, free foreclosure listings with pictures, fannie
mae foreclosure, independent foreclosure review, lawyers, power of
attorney, personal injury attorney, attorneys, power of attorney form,
durable power of attorney, power of attorney forms, criminal attorney,
attorney search, medical power of attorney, free power of attorney,
bankruptcy attorney, power of attorney template, power of attorney form
download, durable power of attorney form, free power of attorney forms,
general power of attorney, free printable power attorney form, lasting
power of attorney, tax attorney, free power attorney forms, divorce
attorney, ace attorney, disability attorney, attorney jobs, enduring
power of attorney, attorney at law, patent attorney, free power of
attorney forms to print, real estate attorney, injury lawyer, personal
injury lawyer, defense lawyer, criminal defense lawyer, the lawyer,
accident lawyer, a lawyer, criminal lawyer, motorcycle accident lawyer,
rocket lawyer, bankruptcy lawyer, divorce lawyer, ask a lawyer, find a
lawyer, lawyer referral, car accident lawyer, family lawyer, lawyer
search, lawyer find, lawyer ratings, lawyer referral service,
immigration lawyer, dui lawyer
Options Other than Bankruptcy for Someone Who Can’t Afford their Property and Doesn’t Want to Keep It
Question: I want to know what the options are for someone who is
considering filing for
bankruptcy. I can’t afford the condo
special assessments or the association fees. I am
considering
bankruptcy and concede that I will probably lose the
condo. I understand that if I don’t pay the assessments
or the fees I could be evicted. Would that be better or
worse for me? I really want to know what options I have
to turn this situation around. Is
bankruptcy my only option? I have two loans on the
condo. Any other options for someone who can’t afford
their place and doesn’t really want to keep it?
Response: You can try to sell the property. Even if it’s a
short sale,
it is better than
foreclosure or
bankruptcy. In my opinion,
bankruptcy should always be the last resort. If for
example,
foreclosure takes place and the bank is suing the
person for deficiency, then
bankruptcy is the way to go to get rid of the debt.
HOA can’t evict an owner of the apartment (this is not a
rental); they have to bring a
foreclosure action, which can be quite lengthy in
New York.
As a New York State
Licensed Real Estate Broker, Attorney Svetlana Kaplun
has the expertise to assist interested homeowners in all
steps of the
short sale process including: bank negotiation and
short sale approval, property listing and sale.
In the legal blog, Attorney Svetlana Kaplun addresses typical questions our firm has received from our clients, or come across from homeowners related to foreclosure, foreclosure defense, loan modification and bankruptcy topics.
The information contained in the legal blog of Attorney Svetlana Kaplun is for informational purposes only, and should not be construed as a legal advice on any subject matter. Please read our full disclaimer or contact the Law Office of Svetlana Kaplun, P.C. by telephone at 718-444-1115 for more information.
Copyright © 2016 Law Office of Svetlana Kaplun, P.C.
modification,
making home affordable, hamp, mortgage modification, harp refinance,
making homes affordable, modifications, home affordable modification
program, home affordable refinance program, hamp program, home loan
modification, loan modification guidelines, foreclosures, foreclosure
listings, foreclosure homes, mers, foreclosure settlement, foreclosure
homes for sale, free foreclosure listings, foreclosure home, deed in
lieu of foreclosure, foreclosure process, how foreclosure works, home
foreclosure, foreclosure radar, bank foreclosure, home foreclosures,
foreclosure listing, hud foreclosure, foreclosure laws, short sale vs
foreclosure, stop foreclosure, totally free foreclosure home listings,
foreclosure help, free government home foreclosure listing, free listing
foreclosure home sale, free foreclosure listings with pictures, fannie
mae foreclosure, independent foreclosure review, lawyers, power of
attorney, personal injury attorney, attorneys, power of attorney form,
durable power of attorney, power of attorney forms, criminal attorney,
attorney search, medical power of attorney, free power of attorney,
bankruptcy attorney, power of attorney template, power of attorney form
download, durable power of attorney form, free power of attorney forms,
general power of attorney, free printable power attorney form, lasting
power of attorney, tax attorney, free power attorney forms, divorce
attorney, ace attorney, disability attorney, attorney jobs, enduring
power of attorney, attorney at law, patent attorney, free power of
attorney forms to print, real estate attorney, injury lawyer, personal
injury lawyer, defense lawyer, criminal defense lawyer, the lawyer,
accident lawyer, a lawyer, criminal lawyer, motorcycle accident lawyer,
rocket lawyer, bankruptcy lawyer, divorce lawyer, ask a lawyer, find a
lawyer, lawyer referral, car accident lawyer, family lawyer, lawyer
search, lawyer find, lawyer ratings, lawyer referral service,
immigration lawyer, dui lawyer
