Real Estate Agents Cannot Give Legal Advice
A short sale is fundamentally a legal and financial settlement with a major financial institution. While a great Realtor can market your home and negotiate the sale price, they are legally prohibited from advising you on the tax consequences or the legal language hidden inside the bank's approval letter.
This is why our Certified Underwater Real Estate Experts in Concord work alongside specialized short sale attorneys. We believe that protecting your future requires a team approach.
Deficiency Judgments
In many cases, if the short sale approval letter is poorly written, the bank reserves the right to pursue you for the remaining balance (the deficiency) years after the sale is complete. An attorney ensures the language explicitly releases you from this liability.
The "Phantom Tax"
With the expiration of the Mortgage Debt Forgiveness Act, forgiven debt can be treated as taxable income by the IRS. An attorney can help you understand your insolvency options or bankruptcy protections *before* you finalize the short sale.
The Concord Advantage
Laws regarding foreclosure, recourse vs. non-recourse loans, and deficiency judgments vary wildly by state. By working with a C.U.R.E. agent in Concord, you get access to legal professionals who understand the specific statutes in CA and how local judges and lenders operate.
Protect Your Future Today
Contact us to be connected with a certified agent in Concord who utilizes an attorney-backed approach to short sales.
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