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Real Estate Short Sale

Avoid Foreclosure Litigation with a Short Sale

Selling Your Home for Less than What Is Owed on Your Mortgage

One of the methods being used these days to avoid foreclosure is a short sale. A short sale presents the homeowner, the lender, and the prospective buyer with an outstanding opportunity to mitigate their damages.

However, the short sale process can be full of misunderstandings and delay. The Law Office of Jursinski & Murphy helps you avoid the frustration of a short sale by using basic fundamental information and a well thought out approach. Contact our firm to receive  foreclosure help.

Short Sale Assistance from Our Foreclosure Lawyers

What is a short sale?

A short sale is the sale of a home for less than the amount required to pay off the balance of your mortgage loan and any closing expenses. A short sale ends with one of three results:

  • The lender releases its mortgage and releases the borrower
  • The lender releases its mortgage and demands payment of the different from the homeowner
  • The lender releases its mortgage and obtains a negotiated amount from the homeowner for the resulting deficiency amount, either in cash, a promissory note, or a combination of both

Advantages and disadvantages of a short sale

There are advantages and disadvantages to a short sale. Our firm helps you sort through those advantages and disadvantages and decide whether a short sale is the right option for you.

Advantages of Short Sale

  • The lender has released your mortgage.
  • Will have less effect on your credit rating than a foreclosure will.  .
  • You may be allowed to borrow money for a new mortgage sooner than if you went through a foreclosure or bankruptcy.
  • Will help you repair your finances by reducing housing payments.
  • Your attorney can negotiate the deficiency to as little penalty as possible.

Disadvantages of Short Sale

  • The process is not as quick as a traditional residential/commercial sale.  The purchase price first must be approved by the mortgage holder.
  • You may face a tarnished credit history and score.
    • Diminished financing options on real estate for a minimum of two years.
    • Lenders may pursue the so-called deficiency balance after the sale.
    • Income taxes may be due on the amount of forgiven debt.
    • The approval process can be time-consuming and frustrating.

A short sale may be the right choice for you to avoid foreclosure. Talk to our attorneys about your short sale.

Call 877.291.3926 for short sale assistance.

Kevin F. Jursinski, B.C.S. Attorney Photo
Kevin F. Jursinski, B.C.S.
Senior Partner

Kevin F. Jursinski is recognized by the objective rating services of Martindale Hubbell as one of Southwest Florida's premier attorneys. He has concentrated more than 40 years of practice in the area of real estate, business and construction law in Naples and Fort Myers.

Kara Jursinski Murphy, LL.M., B.C.S. Attorney Photo
Kara Jursinski Murphy, LL.M., B.C.S.

Firm Partner, Kara Jursinski Murphy, focuses her area of practice on Real Estate Litigation, Business Litigation and Real Estate and Business Transactional Law. Kara has earned the highly-esteemed designation of Board Certified Specialist (B.C.S.) and Expert in Real Estate by the Florida Bar.   This certification recognizes attorneys who have special knowledge, skills and proficiency in various areas of law, including Real Estate, and professionalism and ethics in practice... 

W. Ryan Murphy, Esq. Attorney Photo
W. Ryan Murphy, Esq.
Associate Attorney

W. Ryan Murphy focuses his practice in the areas of Real Estate and Construction law.

Mark R. Wagner, Esq. Attorney Photo
Mark R. Wagner, Esq.
Associate Attorney

Mark R. Wagner focuses his practice in the areas of Real Estate, Business and Construction law.

  • lawyers

    Kara is a very professional attorney. Diligent, responsive, and high attention to detail. She is worthy of the highest rating.

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    Junior Partner

  • lawyers

    Very detailed and always well prepared. Practical to work with on issues that don't truly affect the clients. Excellent courtroom skills. I'm always comfortable referring a client over to her.

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    Managing Partner

  • lawyers

    Has tremendous analytical skills and temperament for litigator.

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  • lawyers

    Kara Murphy doesn't give up. Ever. She is smart and tenacious.

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  • lawyers

    Kara is energetic, incisive, and excellent.

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