Facing Foreclosure? A Short Sale May Help You Avoid Bankruptcy and Move Forward.
If you’re overwhelmed by mortgage debt and facing the possibility of foreclosure, you still have powerful legal options. At Freedom Law Firm, our experienced short sale attorneys in Las Vegas can help you pursue debt relief through a well-executed short sale—so you can avoid bankruptcy, protect your credit, and move on with your life.
What Is a Short Sale?
A short sale is when your mortgage lender agrees to let you sell your home for less than what you owe.
In a short sale, the proceeds from the sale are paid directly to your lender. In many cases, the lender will forgive the remaining loan balance, relieving you of the debt entirely. This process is designed to help homeowners:
- Avoid foreclosure
- Settle outstanding mortgage debt
- Minimize damage to their credit
- Move on from an unaffordable property
However, navigating a short sale isn’t easy. Each mortgage servicer has different rules, and missing a single detail could delay or derail your outcome. That’s where we come in.
Why Hire a Short Sales Attorney?
Short sales are legally complex. Our experienced attorneys streamline the process and protect your rights.
At Freedom Law Firm, we manage your short sale from beginning to end, including:
- Gathering and submitting required documentation to your lender
- Negotiating with your mortgage servicer to seek deficiency waivers
- Reviewing legal documents to protect you from future liability
- Ensuring compliance with Nevada short sale laws and timelines
- Overseeing the closing process to ensure all terms are honored
With legal representation, you reduce your risk of rejection, delays, or being held responsible for the loan’s remaining balance.
Nevada Short Sale Laws and Deficiency Judgments
Under Nevada Revised Statutes § 40.455 and § 40.4636, lenders are generally barred from pursuing a deficiency judgment against homeowners after a short sale if the property was owner-occupied and the loan was used to purchase the home.
This protection is critical. Without it, your lender could still sue you for the remaining loan balance after the home is sold. An experienced short sale attorney can ensure you qualify for and receive this protection under state law.
Short Sale vs Foreclosure
| Feature | Short Sale | Foreclosure |
|---|---|---|
| Credit Impact | Moderate (often recoverable in 2 years) | Severe (can impact for 7 years) |
| Deficiency Risk | Often waived with legal assistance | Possible unless state law protects |
| Ability to Buy Again | Sooner (2–3 years) | Longer wait (up to 7 years) |
| Legal Control | More control with attorney guidance | Lender drives the process |
A short sale is often a more dignified, less damaging path to financial recovery.
How Freedom Law Firm Helps You
With decades of combined experience in consumer debt and foreclosure law, we’ve helped countless Las Vegas homeowners achieve debt relief through successful short sales. Our process includes:
- A free initial consultation to determine if a short sale is right for you
- Custom strategy development based on your mortgage, income, and goals
- Direct lender negotiation with the goal of full debt forgiveness
- Protection from legal exposure throughout the transaction
Take Control of Your Financial Future
Don’t wait until foreclosure proceedings begin. A short sale may allow you to settle your mortgage debt, protect your credit, and walk away without future liability. But timing and experience are key.
Contact Freedom Law Firm today to schedule a free consultation with a Las Vegas short sale attorney who will advocate for your best interests.
Resources
- Nevada Revised Statutes – NRS § 40.455: Deficiency Judgment After Short Sale
- Consumer Financial Protection Bureau – Help for Homeowners Facing Foreclosure
- HUD – Avoiding Foreclosure
- Federal Trade Commission – Mortgage Relief Scams