Foreclosure Alternatives: Short Sale Or Deed In Lieu Of Foreclosure?

Our goal at Shakoori Law Group is always to try to help our clients avoid foreclosure and keep their homes. There are many strategies that we routinely utilize to assist our clients in protecting their family homes, but sometimes a Chapter 13 bankruptcy, loan modification or other strategy is not feasible when your income and assets are considered in relation to your debts. Even if it is not feasible to keep your home or does not make economic sense to do so because you owe far in excess of what your home is worth, foreclosure can still have negative consequences. A foreclosure will damage your credit and may expose you to a deficiency judgment (for the difference between the value of your house and what you owe). A short sale or deed in lieu of foreclosure can be a valuable alternative.

When facing foreclosure of your home, the decisions you make can have consequences that will affect your financial future and lifestyle for many years. It is important to have legal advice from a California foreclosure lawyer so that you make the best decision for the future of you and your family. An experienced Orange County bankruptcy lawyer can carefully evaluate your financial situation to determine if a short sale or deed in lieu of foreclosure is a good strategy for you. At the Shakoori Law Group, we are experienced in assisting clients who are facing foreclosure. Our bankruptcy law firm serves all of Southern California, including Los Angeles, Orange County, Riverside County, San Bernardino County, San Diego County, Ventura County and the surrounding areas.