Don’t Wait for Your Lender to Foreclose After a Bankruptcy Discharge – Short Sale and Get Started Living Life Again!
We work with a number of bankruptcy attorneys serving Virginia, Maryland and DC…and like them, we get asked the following question constantly…”Why should I bother with a short sale after my bankruptcy is discharged?”
This is a great question since the discharge legally extinguishes all personal liability of the borrower(s). But, at the same time, a short sale can be a great 2nd step, especially if the property is vacant. We find that it gives the bankruptcy client peace of mind to get their name off of the title rather than wait an endless amount of time for the property to be foreclosed on. Also, seller(s) are not required to give any financial information during the process since they are protected under the bankruptcy law, although we do see lenders asking for financials anyway. For more information on this process or if you need a bankruptcy attorney referral, call me at 703-400-6757 or email me at jennifer@jyhteam.com.
**The above information is not given as legal advice. If you have legal questions, please contact your attorney.
