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While Qualifying Under Two Types of Hardship, This Couple’s Home Still Came Within One Week of a Trustee’s Sale and Foreclosure

Lambros Politis - Tuesday, February 24, 2015

Lenders consider five types of hardship to be valid when they are asked to approve a short sale: ..

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How Your Homeowners Association (HOA) Can Kill Your Short Sale and Force You Into Foreclosure

Nadia Kourehdar - Thursday, February 12, 2015

If you own a condo or townhouse or a home in a planned community, you may belong to a homeowners association (HOA). Your HOA provides a variety of services to the owners – and charges dues, usually payable monthly.  If you haven’t been able to make your mortgage payments, you may have also stopped paying HOA dues.  If that’s the case and you are trying to get approval to sell, you need to get your HOA to give permission.  ..

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How To Get the Best Broker Price Opinion (BPO) for Your Short Sale

Nadia Kourehdar - Tuesday, February 03, 2015

When you request approval of a short sale from your lender, your mortgage holder will get a Broker Price Opinion (BPO) to help them determine the value – or appropriate selling price – of the property.  ..

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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.