Tennessee Short Sales
When a homeowner wants to sell his or her home but owes more than the home is worth, a short sale is necessary. In these situations, the homeowner and lender must come to agreement on several items. A skilled attorney can guide you through this process.
At the firm of Robert L. Scruggs Attorney at Law, we have a great deal of experience helping individuals move efficiently through the short sale process. We understand that financial difficulty can strike at any time, and sacrifices must be made. For a more detailed discussion about Tennessee short sale, information is available at our firm.
Free consultation · Convenient location just off the Hillsboro Rd./21st Ave. exit (3) of the I-440 Parkway on the south side of Nashville · Free parking
Essentially, short sales are about the loss of financial power. If a homeowner owes 200k on a mortgage and the market will only sustain a sale for 180k, the lender must agree to allow the house to sell for less than the value. Many times, the borrower will be released from the liability of the 20k. Often, however, the lender does not release liability and the borrower will owe the difference between how much was owed and how much the house sold for. In the event that the lender releases liability, the borrower might have to pay income tax on the 20k. These are the questions that an experienced lawyer can help with.
Our attorney will help craft a short sale package to use in negotiation with the lender. The package can contain items such as a contract for sale, financial statements and a hardship letter. We will ensure that your information is in order and presented in an effective manner.
Know your options. Know your rights. You can achieve debt relief today. Call 615-866-2408 or contact us by e-mail to arrange your FREE CONSULTATION directly with our lawyer.
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