Should I file Bankruptcy?
There are different types of bankruptcies. There is a Chapter 7 that will discharge you from all your debts; qualification will depend on how much is owed and your income. Then there is a Chapter 13 which is a 3 to 5 year re-payment plan for your debts.
A bankruptcy prior to a short sale does not help you with getting a fresh start because the lender will still have to do the full foreclosure process to get title back to the house. A bankruptcy will eliminate the debt that is owed. However, many people want a fresh start now and they don’t want to wait until their lender forecloses in order to start cleaning up their credit and moving forward with their life.
Sell Fast Realty has worked with many bankruptcy attorneys that recommend to their clients to sell the house first on a short sale then, if needed, file bankruptcy. Some sellers are only behind on their house payments and the rest of their bills are current. I do recommend that you attempt a short sale prior to filing bankruptcy. We do have referrals for bankruptcy attorneys.
Can I Short Sale the house after a Bankruptcy?
Yes you can! The most important part of selling your house after a bankruptcy is to make sure you have the right real estate agent and negotiator working on your behalf. When Sell Fast Realty does a short sale in which the seller had included their house in the bankruptcy, we obtain a full satisfaction of the loan, which means NO deficiency. Our #1 Focus is YOU! You will still need to provide financial information even though the lender can’t come after you for the debt. HOWEVER, if you use the wrong real estate agent that is not familiar with the short sale process and you only receive a lien release, the mortgage note becomes valid again which means you have reaffirmed on that debt and you are now liable.
What’s the next step for me?
Take Action Now by calling us at 407-888-3433 or call the Sell Fast Realty Agent who provided you with this Special Report. You can also go online at www.SellFastRealty.com or www.freefactsaboutforeclosure.com/ and fill out the contact information. Please be sure to fill out the form completely for a quicker response. We will contact you personally within 24 hours to tell you how our expert short sale team can relieve your stress….. Our #1 Focus is YOU! I am honored that I can educate you with the true facts about foreclosure an take away the stress of foreclosure. I am sure you have some more questions after reading this Special Report and we look forward to discussing them with you on a personal and confidential call with you.
Kimberlee Frank Real Estate Broker & Short Sale Negotiating Expert 407-888-3433 www.shortsalenegotiating.comPost Footer automatically generated by Add Post Footer Plugin for wordpress.