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What To Look For In Your Short Sale Approval Letter

Lambros Politis - Wednesday, May 06, 2015

When you find a buyer for your home in a short sale situation, your next step is to get your bank’s approval. This is the most significant part of the process. Because the bank is agreeing to take a loss on the loan they gave you when you bought the house, they have strict requirements you must meet before they will approve a short sale. ..

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Answers to Your Top 10 Questions About Short Sales

Lambros Politis - Wednesday, April 29, 2015

When you can’t make your mortgage payments and you owe more on your property than it’s worth (you’re “underwater”), then a short sale of your home could be one of the best options you have to avoid foreclosure. ..

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6 Powerful Reasons to Consider a Short Sale

Lambros Politis - Monday, April 20, 2015

Selling your home can be a tough choice. It’s an emotion-packed decision that affects your whole family. Often homeowners feel that selling short is a catastrophe – even when it’s almost impossible to make their mortgage payments. ..

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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.