San Diego foreclosure attorney

Many San Diego real estate websites advise you to call the owner of the site but avoid speaking to a bankruptucy attorney. I find this advice interesting since lawyers were doing short sales long before most if not all of the website creators signed their first listing contract.

In the early 90s my law firm simply called a short sale a type of "workout". A workout which involved a short payoff, a release from liablity and a sale to a third party. Nothing magic about a short sale.

A short sale may be good for one seller, a deed in lieu of foreclosure may be better for another. However many homeowners can benefit from a simultaneous deployment of strategies designed to put pressure on the lenders. That pressure may involve forcing the second to foreclose or it may involve demanding the lenders provide documents and information about lending violations. These multi-pronged approaches work. Recently, I was pleasantly surprised when the supervisor of Countrywide's Loss mitigation department called me in response to one of our workout strategies.

In my opinion (in the current market) a short sale is one of the least potent strategies. (if you have two loans and desire to released from a deficiency).

Last Updated ( Tuesday, 28 October 2008 )

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