tag:blogger.com,1999:blog-10772130.post344045702195473321..comments2011-02-12T07:05:43.324-08:00Carl Starretthttp://www.blogger.com/profile/06409648966714976610noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-10772130.post-15904163820484180532008-05-09T05:42:00.000-07:002008-05-09T05:42:00.000-07:00While legislation passed in December 2007 reduced the risk of debt cancellation income resulting from short sales and foreclosures under certain circumstances, I am not a big fan of short sales in most cases. If a short sale won't prevent a bankruptcy, I really don't see the point of the debtor putting any energy short sale. Continuing to pay a mortgage that they cannot afford while draining resources that could be protected in bankruptcy makes no sense.Carl Starretthttp://www.blogger.com/profile/06409648966714976610noreply@blogger.comtag:blogger.com,1999:blog-10772130.post-39609123339044346652008-05-07T19:45:00.000-07:002008-05-07T19:45:00.000-07:00It is no secret that people are losing their houses to foreclosure in San Diego at this time due to buying with short term ARM loans that are now "blowing up". <A HREF="http://www.sdsfn.com" REL="nofollow">Some people decided to sell "short"</A> to avoid having a foreclosure on their credit history. Sometimes that is not enough relief and bankruptcy and selling the house is the best strategy - but if they find a buyer then file BK, it stalls the sale, which could lose the buyer (they don't like to wait for the BK to clear). What is the best timing of doing a BK and the Short Sale? John in San DiegoJPhttp://www.sdsfn.comnoreply@blogger.com