A Dynamic AND Client-Focused approach to Legal Practice
About ME
Michelle J. Adams
Michelle Adams is the founding partner of M.J. Adams Law. Her law practice primarily focuses on the following practice areas: Short Sale Negotiation, Debt Settlement and Lien Negotiation, Past Due Tax Filing and Offers in Compromise, Loss Mitigation and Foreclosure Defense. Ms. Adams has personally closed over 1,500 short sales and helped many homeowners maintain their dream of homeownership.
Ms. Adams has also provided direct assistance to pro bono clients through the Maryland Foreclosure Prevention Pro Bono Project and Maryland Volunteer Lawyer Services. She was recognized for her exceptional work on the foreclosure pro bono project in the September 2009 Maryland Law Journal.
Ms. Adams graduated Cum Laude from Brandeis University with a Bachelor of Arts Degree in Sociology. She then attended American University, Washington College of Law where she obtained her Juris Doctorate. Ms. Adams is admitted into practice in Maryland, District of Columbia and the Federal Courts of Maryland and the District of Columbia. Ms. Adams was born and raised in the state of Massachusetts (go Red Sox and Patriots!) and currently resides in Darnestown, Maryland.
Short Sale Specific Information
A Short Sale, also referred to as a pre-foreclosure sale, involves the selling of a home for a price that will not repay the remaining balance on the mortgage. It is up to the mortgage lender to approve a short sale and agree that they will accept all of the proceeds from the sale to release their mortgage and lien. When the proceeds of the sale, after payment of all costs and expenses, are less than the total amount owed on the loan, the difference is called a deficiency. it is up to the lender to decide to either forgive the difference or reserve the right to pursue the deficiency.
There are many factors that the lender considers when reviewing a request for a short sale and they are under no obligation to issue approval.
Negotiating a successful short sale is a lengthy, complex, and paperwork-intensive transaction. It involves more than just settling debt as the homeowner is often facing foreclosure at the same time that they are attempting to sell their home. The process can be overwhelming and it is a very emotional and stressful time for a homeowner. Michelle J. Adams and MJ Adams Law can guide you through the process, step by step from the listing through closing. Whether the property is your principal residence or an investment property, Ms. Adams has years of experience in negotiating short sales.
You have options – M.J. Adams Law can help you determine the right solution to your financial problems and work to achieve the best possible outcome.
