The housing market has sustained profound damage in recent years. A complete recovery appears to be a number of years away. More than ever, homeowners who are "underwater" on their mortgage are trying to sell their property without the hope of receiving sufficient funds to pay the holder of their mortgage in full. These "short sales" make up an increasing percentage of home sales in Massachusetts and throughout the United States. If you are attempting to sell your home in a short sale transaction, it is imperative to seek out experienced legal counsel.
In Massachusetts, the attorneys at Percy Law Group, PC, are recognized leaders in short sales. Our short sale transaction lawyers close hundreds of these transactions annually. We have substantial knowledge of and experience with all aspects of the short sale process. We will take great care to conduct your short sale quickly and efficiently. You, as the seller, do not pay our legal fees out of pocket. Our fees are only paid from the closing proceeds, as permitted by the seller's current mortgage holder. Mortgage lenders routinely agree to this.
It is very likely that your real estate broker has already worked with us on a short sale. Attorney Thomas Percy regularly presents seminars on short sale transactions to real estate brokers throughout Massachusetts, including on the new federal HAFA program. Contact our firm today to arrange a free initial consultation. We will stay focused on your case, your needs and your results. That is our promise to you.
Short sales can become complicated due to the fact that mortgage lenders have created layer upon layer of bureaucracy. Despite these complications, the majority of short sale transactions do in fact close. One key factor in facilitating this important transaction is by working with experienced legal counsel. We will help you overcome all obstacles in the way of consummating this transaction.
Our real estate law team has been extremely effective at getting short sales approved so that our seller clients can move on with their lives. We perform the following services:
Specifics of any transaction will vary. We will tailor our representation to meet your specific needs.
The Home Affordable Foreclosure Alternatives (HAFA) Program provides homeowners with options to avoid costly foreclosures and offers incentives to borrowers, lenders/servicers and investors who utilize a short sale or deed-in-lieu of foreclosure (DIL) to avoid foreclosures. One main benefit of HAFA is that when your short sale is approved, your first mortgage holder will forgive all the mortgage debt you do not pay back. Under HAFA, the seller's mortgage lender allows the borrower to list and sell the mortgaged property with the understanding that the net proceeds from the sale may be less than the total amount due on the first mortgage. HAFA simplifies and streamlines the short sale and DIL process by providing a standard application and approval process, minimum performance time frames and standard documentation.
Although our main office is located in Taunton, we have offices across Eastern Massachusetts. Call (508) 718-2545 or complete our contact form to schedule your free initial consultation. We have staff members who speak Spanish and Portuguese.
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