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Jacksonville Short Sale Attorney

Jacksonville Short Sales are a common method that The Law Office of Garrett J. Strahl uses to help Duval County borrowers avoid or stop foreclosure.

  • Banks are willing to take less money than what they are owed to avoid having to go through the foreclosure process, which is expensive to them.
  • Lenders agree to accept a short sale when a borrower is facing some kind of financial difficulty or hardship, or are unable to pay their mortgage for whatever reason.
  • Banks agree to short sales because they do not want to foreclose, and it is their last opportunity they have to recoup what they have lent.


There are many benefits to doing a short sale.

  • First: in some cases any balance owed to the bank after a short sale is forgiven. Let me put it this way: the difference between the amount that is owed to the bank and the amount the bank is paid off at the short sale closing is written off by the bank. This means that the borrower will not owe this money to the bank.
  • Second: since the passage of the Debt Forgiveness Act in 2007, there is no tax consequences for the forgiven debt on a mortgage related to a primary residence. Mortgage Forgiveness Debt Relief Act of 2007 Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately).
  • Third: and equally as important, a borrower’s credit will typically improve much faster after a short sale than it would after a foreclosure. In many cases, the credit of a borrower can return to normal in as little as 12 to 18 months after a short sale.
  • Promissory Note & or Deficiency: Not all borrowers or clients will be relieved of the balance or deficiency even through negotiations some lenders require full or partial repayment of balance owed.

A Jacksonville short sale is an excellent option for borrowers who cannot pay their mortgage. A Jacksonville Short Sale Attorney will negotiate towards more desirable terms for our client. Contact us for a free consultation! 904-342-1050



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