Which direction to turn? Short Sale, Foreclosure or Bankruptcy
Monday, January 17, 2011
Many people today are in a position to ask themselves ‘Do I Short Sale my home, let it go into Foreclosure or file for Bankruptcy’? The answer to this question is not as easy as one would think. In today’s Real Estate market, I find many people asking themselves the question but never follow through with an answer.
This is a complex questions and what is right for one person might not be right for another. That is why many realtors stress to their clients the importance of speaking with their accountant or an attorney to assist them in choosing the right course of action to take when dealing with their real estate matters.
Presently, there are many atricles out there addressing this subject. I caution everyone on reading these articles and taking action before speaking with a reputable attorney or tax accountant. It is important to know what the consequences will be no matter what action is taken.
While a Real Estate Agent is not allowed to give legal advise, they are a good source for references. You might also speak with your neighbors and see who they may know or have heard about regarding this issue.
Good Luck with y0ur future and your real estate investments.

