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Top 10 Books on Debt Relief

Lambros Politis - Tuesday, July 14, 2015

At Ark Law Group our goal is to help people get out of debt – usually by negotiating with creditors, arranging for mortgage loan modifications, or preventing foreclosure through the short sale of a home.  ..

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Could a new mortgage assistance program help you keep your home?

Lambros Politis - Tuesday, June 30, 2015

Finally . . . some good news. After many long, difficult years, the economy is improving and home values are going up again. You may have your own good news—perhaps your boss added more hours to your part-time job, or you were given a raise or you may have even gotten a new position.  ..

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What You Need to Know About the FHA Short Sale Process

Lambros Politis - Tuesday, June 23, 2015

The US Federal Housing Administration (FHA) – part of the Department of Housing and Urban Development (HUD) – provides mortgage insurance for loans provided by FHA-approved lenders. Usually, this type of loan is given to first-time home buyers who wouldn’t be able to afford a typical down payment and may not qualify for private mortgage insurance (PMI). ..

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Companies We've Worked With

Our foreclosure prevention service is free to you.

Our full-service negotiation service is offered for free to homeowners. We are paid by the lender and/or the buyer.

We guarantee full settlement of your debt.

We are able to get a full settlement over 98% of the time. If the lender doesn't give a full settlement, we continue working with you, post-closing, until you have full and final satisfaction.

And, you get your short sale approved in the fastest time possible.

Every element of our short sale process is designed for speed and efficiency. We know that this is a difficult, challenging time, and we want to help you get through it as fast as possible.

Nadia Kourehdar & Lambros Politis

Lead Associate Attorney & Lead Counsel

Frequently Asked Questions
Can I get paid to do a short sale?
Yes! The HAFA and FHA programs both pay up to $3,000 to the seller. They call it a "borrower relocation incentive." We've seen Chase pay up to $35,000 to borrowers with old WAMU loans. Bank of America has a co-op program that often pays out $7,000 in addition to the HAFA $3,000.
How does Ark Law Group get paid?
Our full-service short sale negotiation service is offered for free to homeowners. We are paid by the lender and/or the buyer.
How long does a short sale take?
The length of the time depends on who your lender is, the kind of loan you have, and who is negotiating your short sale. The time range is typically between 3-6 months.
Do I need a hardship to do a short sale?
The rules around hardship vary by lender and loan type. In many cases, simply defaulting on your loan is enough to get the lender to agree to a short sale. For example, if you have an FHA loan, are 90 days delinquent, and have a credit score below 620, you are automatically qualified for a short sale.
Why would the lender agree to take a loss?
If the lender is forced to foreclose on your house, they are then responsible for selling it. They already know they are going to lose money if that occurs. They would rather have you sell it now, as it will provide them more money than if they had to sell it themselves, and they will get the money sooner.
Will there be taxes on the forgiven debt?
Typically not. See our insolvency calculator.