Mara Mara Law / Daytona Beach Foreclosure -Ormond Beach Foreclosure Attorneys /

Daytona Beach Foreclosure

Short Sale:

At Mara & Mara we can help you if you are going through a Daytona Beach Foreclosure or one in a surrounding area. A short sale occurs when the bank allows the borrower to sell the property for less than what is owed on the mortgage. As with a deed in lieu of foreclosure, in order to qualify for a short sale, the borrower typically must demonstrate a financial hardship and provide a financial affidavit to support the claimed financial hardship. The short sale does not automatically release the borrower from the obligation to pay the remaining balance of the loan, known as the deficiency. However, with the assistance of Mara & Mara, our Daytona Beach Foreclosure attorneys may be able to negotiate on behalf of the borrower to possibly eliminate or reduce the deficiency owed to the lender.

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