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Loan Modifications and Short Sales and Bankruptcy

 

If 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. 

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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.

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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

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