I am talking to more and more people that do not want to short sell their home as they are filing bankruptcy. I also am hearing that bankruptcy will not get a seller out of their troubles as the home is a secured debt? Why is there so much confusion about this? Are the bankruptcy attorneys not telling homeowners the truth or do they not understand themselves? I know it will remove a 2nd mortgage but unless the foreclosure occurs before the bankruptcy is discharged then the homeowner still has a home and a mortgage to deal with? I am putting a lot of question marks behind my sentences as I am not sure about any of these statements. Can anyone tell me what the scoop is? How can I work with these customers and how can I work with these attornies?
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