Many people across Arizona are finding that they are in a situation where they owe more than their home is worth, are having trouble making their mortgage payments and wondering what their options are.
One common thing people do when in this situation is they speak with a real estate agent about “short selling” their house. And I suspect more often than not, the real estate agent isn’t even aware of all of the potential legal risks associated with a short sale in Arizona.
And yes, there are plenty of potential legal risks whenever you short sell your house in Arizona – not to mention attempting to get a loan modified or if both are unsuccessful, go through foreclosure.
So when people ask us our opinion, we usually tell them to speak with an experienced loan modification / short sale attorney who can give expert legal advice and assistance when it comes to both the homeowner and the Realtor.
Enter Thomson Law in Phoenix.
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 find yourself in a situation where you are possibly facing a short sale, a loan modification or a foreclosure, we highly recommend you speak with the best legal team that you have access to who can help you be sure your legal rights are protected.
A wise man once told me that 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:
Kevin Hardin
THOMSON LAW PLC
2701 East Camelback Road, Suite 150
Phoenix, Arizona 85016
602.774.3757
602.840.3290 Fax
[email protected]