About short sales & loss mitigation
When you owe more on your mortgage than your home is worth — or you are in default and cannot catch up — the options are foreclosure, deed in lieu, short sale, loan modification, or sale at full payoff. Polo | Pimentel Law represents homeowners and property owners in short sale negotiations, loss mitigation, and foreclosure avoidance.
A short sale is a sale of the property for less than the loan balance, with the lender's consent. Done correctly, it can preserve your credit relative to foreclosure, discharge the balance of the loan (or at least limit deficiency exposure), and let you move on. Done incorrectly, it can leave you on the hook for deficiency years later.
Our role is to negotiate with the lender or servicer for approval, draft the short sale approval letter language that protects you from deficiency, coordinate with your realtor and the buyer's side, and close the transaction correctly.
What we handle
Short sale negotiation
Direct negotiation with the lender or servicer to obtain short sale approval — including approval letter language that waives deficiency.
Deficiency judgment protection
Many short sale approvals still reserve the lender's right to pursue deficiency. We negotiate language that prevents this.
Loan modification assistance
For owners who want to keep the property, we assist with loan modification applications and negotiate with servicers for rate and term changes.
Deed in lieu and strategic default
When other options fail, a deed in lieu of foreclosure may be the cleanest path. We negotiate the terms.
Questions we hear
Related services
Seller Representation
Listing review, contract drafting, disclosure compliance, HOA coordination, and closing attendance for sellers.
Residential Closings
Attorney-led residential closings — document preparation, escrow management, disbursement, and post-closing cleanup.
Commercial Litigation
Contract disputes, partnership disputes, fraud claims, real estate litigation, and IP disputes — handled by the same attorneys who draft the deals.
Need help with short sales & loss mitigation?
Schedule your free consultation. We respond to every inquiry within one business day.