Living in Bankruptcy Confusion? Escape The Stress! Nothing But Blue Skies From Now On.

Should you short sell your property or file personal bankruptcy?

The short sale is tempting.  The idea behind it appeals to every underwater mortgagor in the country.  I can sell my home for what it is worth, even it is less than I owe, and the mortgage company will accept it.  The short sale offers the opportunity to move on with a life that has been stalled due to an underwater mortgage and with no consequences whatsoever.

If only it were that simple.  Good rule of thumb: If it sounds too good to be true, it probably is.

New Jersey Bankruptcy Attorney Bruce C. Truesdale understands the nuances of a short sale and explains them in detail in this article. 

Short sales are a tax trap that usually only solves about half the problems most debtors have when considering a short sale or declaring personal bankruptcy.

Contact our bankruptcy lawyers regarding how to move forward with your life and how best to handle your home mortgage.


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