Short Sale and Bankruptcy

We have had some great success recently with our short sales and it appears that the major banks are really making an effort to help those who are struggling. So for those of you who are in debt up to your eyes, struggling with all of your payments and considering a short sale, please consult with your local professional agent first, and not a BK attorney. The reason I say that is because we just found out first hand what happens when a BK attorney gets involved right in the middle of an active short sale. The most important piece of info that I can share with you today, and that most BK attorneys fail to mention, is that when your BK filing gets to the court, effective immediately, you give up control of your entire life; including income, assets, property and anything else you have that you forgot about. The court appointed trustee will audit your life and becomes the ring leader and nothing can be done without their permission. Worse yet, the trustee has unlimited power and can actually take the short sale away from your favorite agent and give it to himself (if he is an agent) and/or his favorite agent. This is totally legal and common in California. The trustee works on commission so be warned, he will find every asset you have, even if you forgot about it or if it has been hidden. Anyway, be careful when making a decision regarding short selling your home and filing bankruptcy at the same time. For those of you in the Sacramento area, we refer all of our clients to local real estate attorney Kristy Hernandez. She is not only smart, honest, ethical and good at what she does, but she actually picks up her phone most days. I rarely do this, but she just helped two of our clients for "free", I want to give out her phone number for anyone who needs help or advice. Kristy Hernandez 916-728-1500, you do not have to mention our name, she will give you the same excellent service regardless!