After a free phone consultation, we decided it was best if he sold the property. He owed approx. $125,000 on his mortgage but the property was only worth about $100,000. He did not have the money to make up the difference. We decided the best option was to do a short sale. A short sale will allow him to sell the home with the bank taking the loss.
The Buyer will take the property subject to the building code violations.
If you are in a similar situation, call our office for a free consultation.
Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602
312-238-9298
Offering free legal representation to homeowners seeking a short sale
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