Short Sale Attorneys
Serving Hampton Roads, Richmond, Northern Virginia
Many homeowners who are unable to make mortgage payments consider a short sale of their home as a possible option. A short sale occurs when a homeowner is allowed to sell their home for less than the amount they owe to the lender.
At Fortress, we help homeowners with a wide range of foreclosure prevention strategies, including short sales. Our skilled attorneys can handle all of the negotiations and legal details to help you with your mortgage problems.
While a short sale may help to walk away from your mortgage problems, with a short sale you could also be walking into tax problem. That’s because the difference between the balance of your mortgage and the sale price of your home is essentially forgiven by the lender which is typically interpreted as income by the IRS.
That’s why our lawyers throughout Virginia are here to counsel you on the benefits and costs associated with short sales and to help you identify other possible options including loan modification, foreclosure prevention litigation, and bankruptcy. Almost any option is better than losing your home through foreclosure and suffering credit report damage for years to come.