Charles W. Siragusa
Charles W. Siragusa will do whatever is needed to accomplish the task for which you retained him – to close on the “short sale”.
What is a Short Sale?
A “short sale” is a seller who sells his home for an amount which is less than the amount of the mortgage on the home. If you close on the sale of your home as a “short sale” you should be released from your mortgage – meaning that you should no longer owe any amount on your mortgage.
Why You Would Want to do a ``Short Sale``
If you owe more on your mortgage than your home is worth, then it might make sense for you to do a “short sale.” Why make payments on a loan for something (your home) that has a negative value? You may be better off to get rid of the loan and buy another home that will be worth more than the amount of the mortgage for your new home. Not just that, but you should be released from the loan on the “short sale” home your are selling – meaning that you no longer owe any amount on your mortgage and the lender can’t ever try to collect from you the amount you owed on the mortgage. Even more importantly, a “short sale” will avoid a foreclosure, which damages your credit rating. A foreclosure also exposes you to the possibility that your lender will sue you to obtain a money judgment against you personally for the difference between the amount of your mortgage and the lesser value of your home.
You need Charles W. Siragusa to help you accomplish a “short sale” – which is more difficult than a regular sale.
Problems in Doing a ``Short Sale``
The major problem with trying to do a “short sale” is that you MUST get the consent of your lender to the “short sale.” Not all lenders will agree to a “short sale,” and, it almost always takes a long time to get such consent—weeks and maybe months. There are frequently additional documents and information that your lender will insist on obtaining from you before it agrees to the “short sale.” Some lenders take a close look at your financial situation to determine if the lender will agree to the “short sale.” Your realtor may help you do a “short sale,” but an knowledgeable attorney experienced in “short sales” is invaluable to help you navigate all the problems to accomplish a “short sale.” Charles W. Siragusa has represented numerous sellers in “short sales” and knows what needs to be done for you to sell your home as a “short sale.” It frequently takes many phone calls and e-mails to your lender to persuade it to agree to the “short sale.” Charles W. Siragusa will take the time and has the knowledge to convince your lender to agree to a “short sale.”