Short sales are a major part of the real estate market as businesses are booming or revamping their spaces in order to be more efficient and cost effective. A short sale must obviously be granted and must meet certain restrictions and rules. The necessary documents and qualifications can be properly determined and explained by a real estate attorney such as our law firm’s lawyers in San Antonio.
Following the recession and rising popularity of short sales over recent years, new laws have been enacted to accommodate the buyer and seller in a short sale payment agreement. A local lawyer in San Antonio can help you understand and follow these new laws towards the success of your upcoming short sale. For homeowners who have essentially lost headway in the mortgage struggle, new rules allow for easier access and qualification for a short sale. These can be reduced based on a homeowner’s credit score or the extent to which they have become behind on payment of a home mortgage. In addition, new rules for members of the military are making it possible to navigate the relocation process in regards to home ownership.
For many military members, relocation is often swift and necessary, in addition, their obligation to their job means that the proper process for a short sale may not be possible. In the past, many military members simply forfeited multiple amounts of their financial property in order to avoid irrevocable credit damage. Now, the leniency regarding this type of matter allows them more freedom. Prior to these new rules the process for approval of short sale was long and arduous, thankfully homeowners dealing with the death of a loved one, unexpected job losses or upheaval in relation to their type of work, can rely on these new rules to solidify a fair and reasonable short sale approval. With a newer, more rapid process, it is as important as ever to seek the counsel of an attorney San Antonio TX home sellers can trust to carefully and faithfully handle the legal aspects of a short sale.
Though the new rules mean easier applications and faster approval, retaining an attorney is still as important as ever. The applications and documents associated with this type of transaction should be carefully viewed and understood. The real estate lawyers at Shumway Van offer free consultations for all of your real estate matters. During this consultation, which can be conveniently set up by contacting us at (210) 503-2800, we can review your situation at our firm’s office during business hours, or at a convenient location for you and your schedule.