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If you are like hundreds of thousands of Nevada homeowners, your house may not be worth as much as the debt on your mortgage or mortgages. As you probably know, this difficult situation is referred to as being “upside down” or “under water.” Many people with an upside down house feel trapped in it because they can’t sell or refinance.
At Randolph Law Firm, we can help you explore and pursue a short sale of your home if you are unable to sell it by conventional means. We are known for facilitating solutions to even the most difficult mortgage and debt problems.
A short sale is the sale of a property in which a lender agrees to take less than the loan value — to sell “short.” A short is essentially a settlement between the borrower (the homeowner) and the lender (usually a bank or mortgage company). If your house is under water, the benefits of a short sale include:
The potential challenges of a short sale include:
If you are wondering whether a short sale is a good option for you, Randolph Law Firm can help you now. Contact us for a free consultation with an experienced lawyer.
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