Erick Trivedi Real Estate Law Blog

A short sale is a transaction where the lender who owns the mortgage on a property agrees to mark down the principal of the loan.  The lender does this in exchange for the homeowner selling the property and taking nothing from the closing table.  The ultimate benefit to the lender is that a high risk loan is removed from its books and hopefully it will be able to reinvest those funds into a more secure investment.

Shortsales are often necessary where a homeowner is upside... Read More

By the time most clients in need of a loan modification contact me, they are already in an active foreclosure case.  While each case has its specific facts, there are a few common threads that I have noticed throughout my representation.

First, most homeowners are either being advised to stop paying their mortgages in order to be considered for any kind of loan mitigation or they are being told that only after a foreclosure process has begun, will they be eligible for any such... Read More