Short Sale Attorney
Are you facing foreclosure and searching for an alternative to being foreclosed upon? Contact the short sale attorneys at Minchella & Associates. Our firm has more than 37 years of legal experience. Managing partner Erica Crohn Minchella has spent her entire career representing real estate buyers and sellers in a wide variety of real estate transactions including short sales. She can provide you the experience and guidance you need to manage this minefield.
Do I need a lawyer for a short sale?
Without question it is in your best interest to work with a short sale attorney throughout this process. Your lender is attempting to foreclose on what is likely the most valuable asset you have in your possession. Our law office can negotiate on your behalf with your lender to obtain the best outcome for you.
Most people facing a short sale have no experience negotiating with banks. Minchella & Associates has extensive experience in this area. We have found that every single lender requires different documentation and plays by different rules. Some lenders are straight forward whereas some lenders will require the same documentation five times. It is critical to know how to present your documentation to the lender in a way that prevents them from taking advantage of you. In addition, once the short sale has been negotiated, you will need a lawyer to close the transaction for you.
How do short sales work?
The process of a short sale varies depending on which lender with whom you are dealing. Minchella & Associates has dealt with virtually every lender and as such, is uniquely positioned to maneuver the process, help you understand it, and help with strategies for the more recalcitrant lenders. However, generally speaking there are certain steps that your short sale will take, these include:
Is short sale better than foreclosure?
Erica Crohn Minchella
Erica is a graduate of Loyola University School of Law and has practiced law for more than 37 years. She concentrates her time, talents and passion on assisting clients to be well-informed about their real estate decisions, whether they are buying a home or an investment, as well as helping them get out of debt and to build a solid financial future. Her field of expertise includes the spectrum of conventional and distressed real property issues for both residential and commercial properties, foreclosure defense, short sale transactions, sales out of decedent’s estates and personal and land trusts and counseling her clients in re-establishing their credit and becoming debt free and mortgage free. She also advises investors in need of exit strategies for real estate deals gone sour as well as those who see the current market as a great place to invest, as well as home buyers who are purchasing conventional and distressed real estate. She has maintained her Real Estate License for over 28 years.
Married for over 35 years, Erica works most weekends which is made easier by the fact that she shares office space with her husband’s business. Her son works for her husband’s appraisal business. Her daughter, who is also an actress, works for Erica. Erica shares her passion (and tickets) for the theater, opera and music with her family and friends.
My Approach to Practicing Real Estate Law
I firmly believe that quality legal representation should not be prohibited by exorbitant attorney fees and works to be affordable for clients who respect the fact that legal services do cost money. I do not wish to be the “next” problem for my clients who are in financial distress.
While I love helping people move on with their home purchases and sales, I have a soft spot for people who are struggling with their real estate decisions. I like being the catalyst toward a solution.
“Winning” in a foreclosure case is a rarity. I always hope to find solutions so that good choices can be made and the result best helps the homeowner.
Education & Awards
B.A., University of Illinois
J.D., Loyola University of Chicago
Leading Lawyer - Leading Lawyers Network, 2013-2019
Top Ten Residential Real Estate Lawyers in Illinois, 2019
Super Lawyer, 2017-2019
AV Rating, Martindale Hubble
Winner, Kathryn Barisa Rinella Mentoring Award
Bar & Court Admissions
Admitted to Illinois State Bar
7th Circuit Court of Appeals
Member of the Federal Trial Bar
Memberships & Associations
Founder & President of the Association of Foreclosure Defense Attorneys
Illinois State Bar Association Real Estate Section Council (past chairperson)
Board of Directors of Illinois Real Estate Lawyers Association
Commissioner Village of Skokie Economic Development Commission
Member Justinian Society of Lawyers
Member Small Business Advocacy Council
Member Commercial Real Estate Executive Women (CREW)
Member drafting committee for revisions to the Multi-Board Contract
Instructor/presenter Illinois State Bar Association, Illinois Institute of Continuing Legal Education, Chicago Bar Association, Illinois Real Estate Institute, Lawline Continuing Legal Education, and Apex Continuing Legal Education.