A South Tampa Short Sale Attorney With Advice You Can Trust

South Tampa features cozy bungalows in Hyde Park, high rises on Bayshore and townhouses off Westshore. Such diversity provides a lot of opportunity. If you have tried unsuccessfully to sell your home and you are in danger of falling into foreclosure, contact an experienced South Tampa short sale attorney for help. The law offices of Stephen K. Hachey can negotiate with your lender and help you sell your home before you lose it to foreclosure.

Short sales can be complicated and stressful, which is why a qualified South Tampa short sale lawyer is necessary to help you navigate the process. Stephen K. Hachey and his staff can contact your mortgage company, work with local real estate agents and help you reach a resolution that will help you get out of your house without suffering through an expensive and humiliating foreclosure. If a short sale is your only option, make sure you’re working with the best attorney around.

The median sales price for homes in South Tampa from Jul 12 to Sep 12 was $55,000 based on 119 sales. Compared to the same period one year ago, the median sales price decreased 8.3%, or $5,000, and the number of sales increased 20.2%. Average price per square foot for homes in 33612 was $50, a decrease of 10.7% compared to the same period last year. The average listing price for homes for sale in 33612 was $89,084 for the week ending Oct 24, which represents an increase of 2.5%, or $2,188, compared to the prior week. Popular ZIP codes in South Tampa include 33647 and 33615, with average listing prices of $291,315 and $179,486.

What is a Short Sale and is it the Right Option for Your Situation?

A short sale happens when a lender agrees to accept less than the amount owed to pay off a loan as an alternative to foreclosure. Lenders know if the property is worth less than the amount owed and they foreclose that they will lose money. A South Tampa short sale attorney can often convince a lender that it will be more beneficial if they take less than what is owed now, rather than taking the property back by foreclosure and trying to sell it later.

Depending upon what you may owe on your mortgage, the current value of the home, your credit history and financial hardship, a short sale may be the answer. The knowledge of Stephen K. Hachey, an experienced Orlando short sale lawyer, can help you navigate through the short sell process as efficiently as possible to prevent a foreclosure.

What if the Property Sells For Less Than You Owe?

Sometimes the mortgage company will write off the difference between what you owe and the sale price is at closing. Sometimes they won’t. Also, depending on your purchase agreement, either the buyer or the mortgage company will have to pay the realtor fees and closing cost.

The entire process can be extremely time consuming and usually requires lengthy negotiation with the lender by a skilled attorney. Not to mention there are many pitfalls to this type of transaction, and it is critical that things be done correctly the first time, otherwise your bank may decline the transaction, or void other solutions.

The main advantage of using an experienced short sale attorney like Stephen K. Hachey is to act as a buffer between all parties involved. And to help you effectively complete the short sale process without any legal recourse.