Short Sale

When retaining the Lugash Law Center, the question isn't whether you can get your short sale approved, rather, it is what the terms of your approval will be? Any real estate agent can say they are a short sale negotiation expert, but how many have a law degree and years of loss mitigation experience to back up their claim? The sheer number of loss mitigation files the Lugash Law Center has worked on has earned them relationships with bank representatives and a clear understanding of how lending institutions think and the nuances involved in dealing with each different bank .

A very common question people ask is "Can I short sell?" There are many real estate agents who will tell you that you cannot short sell your home if you are current on your payment, making a certain amount of money of if you do not have an appropriate hardship. It is the job of the Lugash Law Center to frame the situation correctly so banks can understand there ARE hardships taking place and that the short sale process needs to begin so the homeowner can get back on their feet.

In addition to their ability to demonstrate an accurate situation for the banks, the Lugash Law Center also brings his network of real estate relationships to his clients. Because of their wealth of experience, and having worked on earning San Diego's trust as professionals for many years, the Lugash Law Center works with many reputable investors. With these relationships, they can make sales happen quickly, if that is what their clients' need. Clients who are in need of an accelerated short sale process before foreclosure occurs can be connected with investors that have the ability to buy quickly and stop the foreclosure process from continuing further. Having the ability to quickly move properties can alleviate stress for the seller. Not having a constant stream of people coming into their home and continually forcing the seller to maintain the home's appearance gives clients time to focus on the things that are most important to them.

Most importantly the experienced and knowledgeable professionals at the Lugash Law Center help clients answer any questions that may arise before the short sale process begins. Many people do not even know which queries to begin with. In his free consultations, Spencer Lugash makes sure to answer the questions his clients didn't even know to ask. Of particular concern to anyone weighing the pros and cons of modification v. short sale v. foreclosure are:

  1. Will I be responsible for the Deficiency? (the difference between the amount of money the bank will receive and the amount of money they are owed).
  2. What are my Tax Implications and what kinds of taxes could come into play?
  3. What will the effect be on my Credit and how soon can I buy property again?

When clients are satusfued with the results of these questions, they can work together to begin determining the course of action that will be taken, how long it will take and the steps that need to be undergone to correctly and beneficially complete the deal.

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“I offer anyone who is interested a free consultation to go over their situation.  I can’t promise that I’ll tell you what you want to hear, but I can guarantee that you will leave our meeting with all of your questions answered and the information necessary to make an informed decision about what your next step should be”  - Spencer Lugash

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