Providing Debt Relief and Short Sale Legal Help Since 1994
Short sales are used by homeowners who are threatened with home foreclosure, who are experiencing difficulty remaining current on their home loan(s) or who otherwise need to sell or dispose of their home. As home values have continued to plunge in Arizona, short sales are an increasingly popular option to reduce or escape from excessive debt.
Though short sales often provide positive results for homeowners, risks and potential pitfalls exist. For example:
- Even after a short sale, homeowners sometimes find that they are legally responsible for all or part of the deficiency.
- Banks sometimes use a 1099C form to claim the home price deficiency as a loss, thus improving their balance sheet. The problem is that when banks file a 1099C, the amount that is tallied as a loss for the bank is tallied as income for the former homeowner, thus increasing the seller's tax obligation.
Due to these and other risks, do not handle your short sale on your own and do not let your bank "1099C you" or otherwise infringe on your interests. Your bank will have experienced financial and legal experts protecting its interests during any short sale proceeding. By working with an experienced debt relief attorney, you can ensure that your interests are also protected.
Experienced Phoenix Short Sale Attorney at The Roll Law Office, PLLC
At The Roll Law Office, PLLC, firm lawyer Guy P. Roll has practiced bankruptcy and debt relief law for more than 15 years. We can provide the counsel and day-to-day legal assistance needed during short sale proceedings.
Often, foreclosure or Chapter 13 bankruptcy is a more advantageous option than a short sale. Foreclosures rid homeowners of unwanted property at less risk than short sales, and Chapter 13 bankruptcy is a highly effective way to lessen debt. For more information about short sales, please contact our firm.
Contact a Phoenix Short Sale Attorney
To learn more about how The Roll Law Office, PLLC, can help you get a financial fresh start, please contact us today to set up a free consultation. We operate offices in Tempe, Mesa, Scottsdale, Glenwood and the White Mountains/Show Low, Arizona, and can be reached at 866-603-1533 or 602-652-2403.
