Short Sales: What You and Your Client Need to Know

What is a Short Sale? Short sales have no legal existence, not created or regulated by statute Product of negotiation between buyer and seller, subject to lender approval Lenders will want approximately 80% of outstanding debt Commercial lenders are typically easier to work with than government lenders Driven by market conditions – short sales are

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When You Become a Creditor

Someone owes you or your business money, you try to collect, and then it happens – an official notice from the Bankruptcy Court that you are now a creditor in their bankruptcy. How do you react? What are your rights? What can you do? First, do not try to contact the debtor. It is a

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Debt Consolidation? Debt Settlement? Bankruptcy?

When you’re in debt, it’s important to weigh your options carefully. While a debt management scheme may seem like a good solution, there are advantages and disadvantages to each type, so it’s crucial to understand the differences. Debt consolidation involves taking out a new loan to pay off existing debts. Hopefully, the new loan will

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How Do You Know When to File Bankruptcy?

The decision to file bankruptcy is never easy. While it should be a strictly financial one, emotions always come into play. We all always hope that everything will work out for the best. We do everything in our power to avoid bankruptcy. How do you know when to consider filing? To bankruptcy attorneys, there are

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