Loan Modifications and Short Sales and BankruptcyIf you are considering obtaining, are processing, or are negotiating a loan modification (or other similar arrangement), such must be analyzed in light of bankruptcy law and bankruptcy's effect on same. -- If you are contemplating the "short sale" option, you ought to first contact a bankruptcy attorney before commencing or continuing that option. A short sale might not be necessary if you are intending to file for bankruptcy relief. -- Finally, it is prudent to consult with a tax professional regarding any tax consequences of implementing the various options, especially the nonbankruptcy options. Moreover, if you are contemplating filing bankruptcy, is wise and important to consult with a bankruptcy attorney before making a decision or taking actions such as a loan modification or a short sale. For a free and confidential consultation, contact southern California bankruptcy lawyer Matthew B. Tozer. Copyright 2010 |