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Bankruptcy and Short Sales Atlanta, GA

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Short Sales and Bankruptcy

Advising You on All Your Choices Before You Try a Short Sale

If your mortgage balance is higher than the value of your home (underwater), you may be asked by the bank to try a short sale, when you try to sell your house for less than you owe. Before you jump into the short sale process, you should know the risks and understand the alternatives, because you do not want to be left owing a balance on your mortgage.

At Jamie L. Gingold, PC, GingoldBankruptcyLaw.com (Formerly practicing with Gingold & Gingold LLC), we can offer accurate information about short sales and bankruptcy, and our Atlanta attorneys — Ira D. Gingold, who has been a bankruptcy lawyer since 1971 and Court-appointed Bankruptcy Trustee from 1971-2013, and Jamie L. Gingold, who has been practicing bankruptcy, real estate and business law since 2001 — can advise you on your options.

Understanding the Risks and Disadvantages of the Short Sale Process

The idea of a short sale may sound good, but the reality is very different. All too often, short sales are dangled in front of homeowners as a way to get them to keep making payments to the mortgage company. An average short sale process involves:

  • Months of waiting before your lender will agree to let you try a short sale
  • Months of waiting before someone comes along and makes an offer on the house
  • Months of waiting before your lender will approve the contract with the buyer
  • Months of waiting before your buyer can get financing for the purchase

If things fall through at any of these steps (which they often do), you are further behind on your mortgage payments and closer to a foreclosure. Additionally, many people have two mortgages on their homes, which further complicates the process.

Even if you succeed at selling your house in a short sale, the fine print may say that you still have to pay the difference between the sale price and what you owed on the mortgage.

Georgia Attorneys · Bankruptcy and Short Sales · Free Consultation

If you are preparing to leave your house and do not want to be foreclosed and evicted, bankruptcy is the right choice for you. If you cannot afford to keep your house, the bankruptcy law keeps you from owing any leftover balance to your mortgage lender.

To learn more about your bankruptcy alternatives, contact us at (678) 915-2634 or by e-mail to schedule a free consultation. We have offices in Atlanta, Cumming, Dallas and Douglasville, with evening and weekend appointments available.

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    Our Client Reviews

    Jamie L. Gingold, PC
    5.0 / 5.0

    Based on 28 reviews

    Jack L.

    They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

    Karen B.

    Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

    Lyla B.

    I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

    Julie T.

    Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

    Julie T.

    I contacted getting old and getting old regarding some old tax debt and credit card debt that I needed to address and had been putting off. miss Irving in the office was very very nice and put me at ease. I met with Jaime Gingold. She was very nice and explained the procedure to me and what would be left owing to the Internal Revenue Service and the State of Georgia after my case was done. My case has now been completed and I am on my way to a new start. Thank you Gingold and Gingold for all of your help.

    Anna T.

    Amazing! Outstanding!! They went over and beyond..I would recommend them to anyone needing a lawyer!!

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    Jamie L. Gingold, PC

    195 14th Street NE #1604

    Atlanta, GA 30309

    Phone: (678) 915-2634

    Email:

    We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.