Hey everyone, Kelly Cook here again with the Cook & Associates Real Estate Advisors and The Real Brokerage in :k1:. We can be found online at www.KellyCookHomes.com. We specialize in helping homeowners find alternatives to foreclosure through the means of a short sale. The topic we’re addressing today is, “Should I file a bankruptcy or do a short sale?”
Before we begin, I would like to disclose that I’m not a licensed attorney so I can’t give you legal advice about implications and ramifications of a bankruptcy. However, we do have a bankruptcy attorney that we work with on our team that we can put you in touch if you have questions about filing bankruptcy. A lot of people do consider whether or not they should file bankruptcy or do a short sale and what’s best for them. If you do have other outstanding consumer debt in conjunction with your home being severely underwater, bankruptcy could be an option. If you don’t have to go down that route and it makes the best financial decision to do a short sale, this could be a successful resolution to your financial problems. Please don’t ever rush into filing bankruptcy if you feel the debt on your mortgage is insurmountable.
Please give us a call and let us review your situation to see if a short sale is the better option for you. We can also consult with our bankruptcy attorney to find out if the short sale will be good enough to avoid a different drastic solution. You can email us at info@kellycookhomes.com or call us at either our Arizona or Ohio office. We look forward to hearing from you soon and helping you determine if a short sale is the best financial solution for you.