Chicago Short Sale Attorney
A short sale occurs when a homeowner sells their property for less than the outstanding mortgage balance, with the lender's approval. This complex process requires experienced legal counsel to negotiate with lenders, protect your financial interests, and help you avoid the devastating consequences of foreclosure. Attorney Brian Tierney has guided numerous Chicago-area homeowners through the short sale process, helping them move forward with their lives.
Is a Short Sale Right for Your Situation?
The process begins with a thorough evaluation of your financial situation. Attorney Tierney reviews your mortgage, outstanding liens, property value, income, and expenses to determine whether a short sale is the best option — or whether alternatives such as loan modification, forbearance, or deed in lieu of foreclosure might be more appropriate for your Chicago property. If a short sale is the right path, Brian prepares the complete hardship documentation package required by your lender.
Lender Negotiation & Deficiency Waiver Protection
Once a buyer submits an offer, the real negotiation begins. Attorney Tierney communicates directly with your lender's loss mitigation department to obtain short sale approval, negotiate the sale price, and — critically — secure a deficiency waiver so you are not held responsible for the difference between the sale price and your outstanding mortgage balance. Without a deficiency waiver, you could face a judgment for tens of thousands of dollars after the sale. Brian fights to eliminate this liability as part of every short sale he handles.
How Attorney Brian Tierney Manages Your Chicago Short Sale
Throughout the process, Attorney Tierney manages all communications with the lender, buyer's attorney, real estate agents, and title company. He reviews the closing documents to ensure the terms match what was negotiated, represents you at closing, and advises on potential tax implications — as forgiven debt may be treated as taxable income under IRS rules. Whether your property is in Chicago, Burbank, Evergreen Park, or anywhere in Cook County, Brian's comprehensive approach ensures you are protected at every step.
Take the First Step Toward a Fresh Start
If you are facing financial hardship and considering a short sale on your Chicago-area property, time is critical. The sooner you engage experienced legal counsel, the more options you will have. Contact Attorney Brian Tierney today for a free, confidential consultation to discuss your situation and explore your options.