Louisville Real Estate Short Sale Attorneys

Representing Sellers or Buyers in Short Sale

If you are behind on your mortgage and can't afford to keep your home, a short sale may allow you to avoid the black mark of foreclosure and walk away owing little or nothing.

The experienced real estate lawyers of The English Law Group, P.S.C. represent homeowners, homebuyers and investment property buyers in short sale transactions. We can also assist realtors who do not have experience in short sales. We practice in Jefferson County and surrounding counties of northern Kentucky, as well as nearby locales of southern Indiana. Contact our Louisville law office at (502) 425-8717 to discuss your situation.

  • Sellers - We negotiate with your lender to sell your home and forgive any remaining mortgage debt.
  • Buyers - We make sure the property passes to you without any liens.

What Is a Short Sale?

If you are "upside down" on your mortgage (owe more than what you could sell the property for), you are still responsible for the remaining debt after the lender forecloses. A foreclosure will negatively affect your future ability to finance a home.

Short sale is an agreement with the bank or mortgage company (lender) to put the property up for sale and turn over the proceeds. The lender either agrees to "call it even" or accepts a steeply discounted amount of money at closing as payment in full.

Why would lenders agree to this? They don't want the property. It takes additional resources and considerable time (especially in current market conditions) for them to foreclose and then sell the property. Short sale is a business decision on their part.

Attorneys Robert English and Colleen Balderson have handled thousands of real estate transactions, including many short sales. They deal directly with the bank or mortgage company to cut the best possible deal, and make sure that secondary creditors (e.g. those holding a second mortgage, judgments, or tax liens against the property) are on board with it. The English Law Group P.S.C. can handle the entire process of putting your home up, negotiating a sale price, clearing the title and the closing. Ask us about our For Sale by Owner representation. If you are having other financial issues, (bankruptcy) may be an option you should consider.

Should I Buy a Short Sale Home?

If it looks like a great bargain, we can protect your interests to ensure that it is. The English Law Group P.S.C. has represented many clients who realized the investment opportunity (rent it out or fix it up and resell it for a profit), as well as homebuyers who fell in love with a house that happens to be a short sale. There are two issues for buyers:

  • The property title must be clear of defects. We make sure that liens are paid off and that nothing is missed that would derail the deal or enable creditors to come after you.
  • It takes a little longer. Our attorneys have the industry contacts to expedite the sale without putting your interests at risk.

Contact The English Law Group P.S.C. today to avoid foreclosure and put yourself in the best possible financial position.