What is a Short Sale?
A short sale is where a homeowner sells their home for less money than they owe on the property. The owner of the home negotiates a discounted payoff with their mortgage company without having to come up with cash to cover the shortfall. At the conclusion of a short sale, the mortgage and any liens on the property are deemed satisfied and any foreclosure process stops.
Other General Legal FAQs
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Q:
What Is A Retainer Agreement?
A: A retainer agreement with a lawyer is like a down payment, it can be used to guarantee that the lawyer will be readily available to work on your particular case, … More -
Q:
What Does A Flat Fee Agreement With An Attorney Cover?
A: A flat fee is used most often by legal clinics and some law firms or lawyers for routine legal matters, like drawing up a simple will or handling an uncontested … More -
Q:
What Is A Contingency Fee Agreement?
A: In a contingency fee agreement the client is not charged an up front fee but agrees to give the lawyer a certain percentage of the money received if you win or settle … More -
Q:
Is An Initial Consultation With A Lawyer Confidential?
A: Yes. Many lawyers provide free initial consultations to determine if the client has a case and for the client to determine if they want to hire the … More -
Q:
When Hiring A Lawyer Should I Consider The Lawyers Age?
A: Decide based on how well you feel the lawyer can handle your case, rather than being concerned about their age. Just remember that even though a lawyer may have … More -
Q:
What Questions Are Important To Ask A Prospective Attorney?
A: Some of the things you may want to ask the lawyer when you talk over the phone or meet include: How much experience do you have with legal issues similar to mine? How … More -
Q:
My lawyer didn't finish handling my legal matter. What can I do?
A: You have a number of different remedies for resolving your legal matter; which remedy you choose is dependent upon what you are seeking to … More -
Q:
On what grounds can I file a complaint against a lawyer?
A: You can file a complaint against a lawyer if you believe that he or she has engaged in some kind of misconduct regarding the handling of your legal … More -
Q:
I want to thank my attorney for his/her service. What would a sample thank you letter contain?
A: Writing a thank you letter to your attorney is really no different than writing a letter to your grandmother to thank her for a birthday gift. However, … More -
Q:
How long must an attorney keep a client's records?
A: The exact timeframe that an attorney must keep a client’s records varies significantly from one state to the next. Typically, state rules that … More
