Real Estate - Crisis for Massachusetts Mortgage Holders Makes Boston Short Sale Attorneys Burn the Midnight Oil
The Law for Life blog has had many new readers lately. While we welcome them all, the sad fact is many are desperately searching for help because they have received notice of foreclosure proceedings against them.
They are frequently in difficulty due to increased mortgage payments caused by rising interest on adjustable rate loans (ARM). These increased mortgage payments are forcing many toward foreclosure and what is known as a "short sale." It is called a short sale, because the money from the sale of the home, is short of what is owed. It is a no-win situation for both borrower and lender. We can help.
Frequently, borrowers panic when they get that first foreclosure notice, instead of either calling the lender on their own to ask for more time or for help, or by consulting an attorney experienced in this area of law. We have helped many homeowners in exactly these kinds of situations and we may be able to help you. There is no charge for finding out.
The lenders do not want to foreclose on you any more than you want to be forced out of your home. Often there is room for negotiation that will involve compromise on the part of both sides. That's exactly where our skilled and experienced staff can help most. But start early, do not delay.
The worst thing a homeowner who gets the initial notice of foreclosure can do, is fail to communicate with the lender. Yet, many homeowners simply panic, hide, clam up or do nothing when the foreclosure notice arrives.
If you feel you can no longer support the payment on your mortgage and you are in danger of losing your home, we are available to discuss your situation and to help you find out what your options are. Often we can intervene on your behalf and negotiate settlements with lenders. In many cases our fees are included in the lender's expenses.
We recognize the stress and pain that comes from foreclosure. Our staff is experienced in handling these problems for clients. Often, just knowing exactly what the procedures are and the timetable for what will happen next are an enormous source of comfort. It is the unknown that is so scary. Please read our guide on short sales above.
Call 781-782-6000 or 877-325-6746 to speak with one of our experienced Massachusetts short sale lawyers.
