Loan Workouts
A trusted leader in Arizona real estate law, Nearhood Law Offices, provides representation tailored to our clients’ unique needs and goals. We offer legal services related to a wide range of real estate transactions, including loan workouts, short sales and strategic default. When a borrower needs to modify a real estate loan, it is important to have a knowledgeable attorney oversee the negotiations. Arizona has unique real estate laws that include anti-deficiency statutes that outline personal liability for residential loans. Interpreting these laws can be challenging, and mistakes can lead to greater legal difficulties in the future.
Nearhood Law Offices employs State Bar of Arizona State—Certified Real Estate Specialists with more than 50 years of experience. Unique insights, combined with the knowledge of our entire team, are beneficial in helping our clients reach the outcomes they desire.
Arizona Foreclosures and Short Sales
Many people are unfamiliar with the differences between a foreclosure and short sale. In a short sale, your lender agrees to take less than the home mortgage loan amount. A short sale requires your lender’s approval and may lessen the impact on your credit.
At Nearhood Law Offices, we provide clients with the tools and knowledge to make well-informed choices regarding their loans. When a borrower falls behind on a loan, our attorneys assess the client’s tax situation, liabilities and other factors. We then explore all of the client’s legal options to identify the best solution to get the loan repayment back on track. If a loan modification, forbearance or other measures to maintain a loan have failed or are not attractive to a client, we help clients to decide if strategic default is an option and offer advice regarding interim maintenance of the property; homeowner’s association fees, real property taxes and insurance; the foreclosure process; rights and obligations of occupancy subsequent to a foreclosure; and potential tax implications.
The dedicated professionals at Nearhood Law Offices, provide our clients with sophisticated representation for real estate, business, construction, property tax and estate planning issues throughout Arizona. To arrange a consultation with one of our highly qualified loan workout lawyers, contact our firm online or call 888-428-2609.