Friday, August 15, 2008

Short Sales Revisited

In July 2007, I wrote an article discussing shorts sales as an alternative to bankruptcy. Since then, there have been some changes in the law that make short sales a bit less risky from a tax stand point. But are short sales really the answer?

Causes of mortgage defaults may include poor money management, overextended financial obligations, loss of income, divorce, long term illness, poor financial management by others or even apathy toward financial obligations. But is a short sale really the answer? A short sale might help you with one aspect your financial struggles, but what about your credit card bills, over due taxes or medical bills? You might be able to get even more benefit by filing for bankruptcy.

We might be able to help. Let us take a look at your global financial picture to see what the best option is for you. Fill out our online questionnaire for a free consultation:

About the Author: Carl H. Starrett II has been a licensed attorney since 1993 and is a member in good standing with the California State Bar and the San Diego County Bar Association. Mr. Starrett practices in the areas of bankruptcy, business litigation, construction, corporate planning and debt collection.

No comments: