Here in the Phoenix metro, many areas have seen property values go down by 50% or more. And sure, there are plenty of real estate agents who are more than happy to help you with your short sale.
But did you know that there are legal risks associated with a short sale / loan modification / foreclosure that your real estate agent may not even be aware of.
Which is why it would be wise (very wise) to speak with an experienced loan modification / short sale attorney who can assist you with a legal strategy to mitigate the risks for both you and your Realtor.
Enter Thomson Law in Phoenix.
Thomson Law: Phoenix Short Sale Legal Experts
Just a small excerpt about Thomson Law that speaks directly to some of the things they have done to help their clients:
How Do You Define Experience?
Is it simply discussing the close ratio of a short sale? Is it the number of listings? Is it the degree of difficulty? Not really, as everyone deserves professional representation from simple to more complex. The problem with that, is there are many short sales that should never have closed because the sale failed to satisfy the seller’s true objectives or created an increased liability for the seller to his or her lenders…
Thomson Law has maintained the view that the true evaluation of experience is “Did the client receive the guidance that had their best interests in mind”. Thomson Law believes it has done so. Thomson Law attorneys are AV rated, the highest peer rating, from Martindale-Hubbell with more than 20 years of experience in Arizona real estate and mortgage lending. Still many have wanted to know what we have done lately.
To date, no client of Thomson Law has received an adverse decision awarded against them by a court for deficiency liability. But that really does not begin to tell the whole story.
Thomson Law has never really publicized what the Mortgage Mediation practice group has accomplished over the last two and a half years. The firm is very proud of the results of this practice group. The Mortgage Mediation practice group has focused on assisting homeowners and real estate agents with their short sales and or retaining their homes when faced with a point where they can no longer afford the current mortgage. Keep in mind, we are retained in a minority of situations as we provide our services to the real estate industry at large.
Since August of 2008 the accomplishments of the Mortgage Mediation Group are as follows:
- Our staff has fielded over 8,000 incoming phone calls from distressed homeowners.
- We have averaged over 16 consultations a week for a total of 2018 consultations with homeowners that are having difficulty paying their mortgage.
- Of those clients 719 have retained our Mortgage Mediation services beyond the initial consultation.
- The 719 retained clients represent $235,034,092 in total resolved residential mortgage debt. This number does NOT include ANY bankruptcy work.
If you are one of the many homeowners in Phoenix who has seen their property value plummet and are considering your options, it would be wise (very wise) to speak with a legal expert who can help you prepare for the road ahead.
In my experience, there is nothing more expensive than cheap legal advice.
And if you don’t believe me, just ask those people who have their lenders chasing them down after a short sale for the deficiency.
Contact Thomson Law:
THOMSON LAW PLC
2701 East Camelback Road, Suite 150
Phoenix, Arizona 85016