Volume 1: Spring Issue, 2008
FORECLOSURE IS NOT THE ANSWER
 

- THE SHORT SALE -

For homeowners victimized by the MORTGAGE CRUNCH and who have run out of options, FORECLOSURE is the common recourse that many would consider. Due to the emotional drain from the losing financial battle with skyrocketting mortgage payments, the consideration of abandoning the home (a direct assault to their relationship with the lender) is more of an act of irrational desperation to get out from under. This decision is one that carries a tremendous set of new financial scars for the borrower more damaging than filing personal bankruptcy.

Experts in the Real Estate industry recommend a 'return to logic' and a little homework will bring forth a solution that may preserve and ultimately restore the homeowner's financial credibility. By definition, a SHORT SALE is a settlement negotiation conducted by a qualified Real Estate attorney between the lender, a realtor and the current owner. This monetary settlement is what the lender is willing to accept once the home is sold.

For properties with little or no equity whose value has sorely depreciated from current the market, the lender is willing to accept a much lowered dollar amount over the total mortgage and allowing the "battered homeowner" to walk away from the home WITH their credit intact. For the lender, a Short Sale settlement concludes the transaction much faster (over foreclosures) while eliminating the very time consuming list of work involved and the tremendous charges brought forth by a foreclosure case (such as eviction fees, attorney and court fees, lost interest etc).

The Exit Strategy over Foreclosure
If you can no longer afford to maintain your mortgage payments, you can avoid the devastation of FORECLOSURE. Resolve your financial heartaches with the "SHORT SALE" or discounted payoff of your property. MENICUCCI VILLA & ASSOCIATES PLLC is in the forefront with a team of negotiators in the SHORT SALE of residential properties under financial distress from the skyrocketing mortgage crunch. Our attorneys have conducted hundreds of short sales each year in the New York and New Jersey areas. From addressing all liens, title reviews to handling the closing confirmation, MVA covers all the bases to ensure a smooth and pain-free transaction. We utilize the most current technology and cost-effective resources to provide services in a timely manner to bring you the best results possible.

To find out more about getting the best results in the Short Sale of your property, call the law offices of MENICUCCI VILLA & ASSOCIATES PLLC. at 718.667.9090. It may be the best investment you'll ever make regarding your property.
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