Phoenix, Arizona — Foreclosure Assistance & Short Sale Lawyers
Are you a home owner or commercial property owner who is delinquent on your mortgage payment or having difficulty meeting your loan payments? If you are facing possible foreclosure or are in a distressed property, you may feel as though you have limited options. At McCain & Bursh, PLC, we can identify your options and help you develop a strategy for resolving your troubled loan.
We represent residential and commercial clients throughout Arizona including the Greater Phoenix and Scottsdale areas. Call us at 602-604-2138 or contact us online to discuss your loan.
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Exploring Your Options
Marc D. McCain has been a leading voice in Arizona regarding residential and commercial loan workouts. He has assisted hundreds of clients and others who are facing foreclosure. Marc has extensive knowledge of Arizona foreclosure law and the options available to borrowers faced with troubled loans. As part of the Firm's foreclosure assistance and counseling, Marc will review your loan documents and meet with you to thoroughly analyze your specific situation and goals, assess your risks and liabilities under your loan and present you with potential alternatives to foreclosure, including:
Short sale: Getting a lender to agree to accept less than what is owed on the loan is not always easy. You need experienced legal counsel on your side so you understand your rights and obligations under the loan and can gain leverage when negotiating a short sale with your lender. We also review and negotiate short sale conditions and approval letters and attempt to limit any deficiency or negative credit reporting resulting from a short sale.
Deed in lieu of foreclosure: Many borrowers don't know that a lender is oftentimes willing to accept a voluntary conveyance of the property as full satisfaction of the debt, even if the fair market value of the property is less than the debt. Lenders may also agree not to report the transaction as a charge-off or settled debt and may agree not to title the deed as a "Deed in Lieu of Foreclosure". Not knowing your rights and what to ask for can prove much more costly than assistance from an experienced workout attorney.
Strategic foreclosure: Arizona's anti-deficiency laws apply to certain residential property loans. If your loan is protected by Arizona's anti-deficiency laws and you default under your loan, you generally will not be subject to additional liability after a short sale or foreclosure. Knowing your rights and obligations is a prerequisite to any foreclosure avoidance strategy. Our Firm knows the law and can help you understand whether you would face a deficiency after a foreclosure or short sale.
Contact Us
Whether you own a residential or commercial property facing foreclosure, McCain & Bursh, PLC can help you evaluate your options and provide you with foreclosure assistance and workout strategies you need.
Call our firm today at 602-604-2138 or contact us online to discuss your options.
