Chula Vista Short Sale Question: Should I Short Sale Or Declare Bankruptcy?

FOR IMMEDIATE RELEASE
Chula Vista, California, United States of America (Free-Press-Release.com) December 13, 2011 -- Chula Vista CA – The Mike Watson Group in Eastlake CA recently received a short sale question from James. Here is his question.
“I am upside down by $300,000 on my home. I want to move, but I am concerned about having that $300,000 debt chasing me for the rest of my life. A friend mentioned I could get it wiped out in bankruptcy.

So, here is my question. Should I short sale and then declare bankruptcy. Or just declare bankruptcy and get rid of the house in the bankruptcy? James.”

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Chula Vista Short Sale Question: Should I Short Sale Or Declare Bankruptcy?

Welcome visit Our WebSite:

http://www.chulavista-shortsales.org

Here was our answer to James’s Question. James, here is something you don’t know. In most short sales, the upside down debt will be erased.

Yes, the banks will forgive the upside down debt. We recently had a homeowner short sale a house where their bank lost over $400,000. They received a complete release on the debt.

The debt was gone and he had no need to declare bankruptcy. Not a bad deal, no? Here is the good news for you. First, many states have laws that forbid banks from pursuing you for a deficiency after a short sale or foreclosure.

Second, most lenders do not pursue borrowers. In fact, they will specifically release you from the debt. But, every situation is different.

Talk to an experienced short sale realtor in your area to get more specifics. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at mikekwcv@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (619) 743-8884

Discover how other sellers successfully completed a short sale and request a free consultation.

Thanks for reading this, Mike Watson.

Mike is a Real Estate Agent at Keller Williams Realty. Chula Vista Short Sales Realtor:

Phone: (619) 743-8884. mikekwcv@gmail.com.

View My homes for sale at www.sellingchulavistahomes.com.

Mike Watson specializes in short sales in Chula Vista California. Chula Vista Loan Modification Help, Chula Vista Short Sales. Chula Vista Short Sale Realtor. Chula Vista CA Short Sales. Chula Vista Realtor.

More information can be found online at http://www.chulavista-shortsales.org

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