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IF a homeowner has filed chapter 7

Posted by CEDRIC MCGREW on May 16, 2010 at 9:30am
If a home owner has filed chapter 7 how do I get them off the fence for doing a short sale they are telling me since they have filed chapter 7 they can walk away free and clear so why would the want to do a short sale? What are you guys doing with chapter 7 homeowners?
Tags: 7, and, chapter, sales, short
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Comments

  • Bill Black May 24, 2010 at 9:32pm
    They are right... but what we do as a BK Attorney firm with a department that does short sales and modifications is educate them on the current guidelines for purchasing with a short sale vs. a foreclosure. We also make sure that the lender in no way is reaffirming any of the debt or we walk and let it go into foreclosure- we usually just escalate in order for this to be accepted.
  • Bryant Tutas May 18, 2010 at 9:18am
    Cedric. All we can do is tell them to seek legal advice. NEVER push anyone to do a short sale. That's opening yourself up for law suit.
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