In an article I am quoted in today’s St. Petersburg Times, reporter James Thorner writes about an issue I’ve been voicing concerns about for some time now (read back in the blog). As indicated in the article, my primary concern is that homeowners in foreclosure are often approached by realtors or other parties who suggest that a “short sale” of their home is the answer to the problem and that if the sale only closes, their problems are over forever. This unfortunately is not that case–the borrower still faces several significant liabilities (like 1099-c IRS liability) and unless they are properly represented by an experienced real estate attorney, they may not be accurately advised of the consequences.
Read the article and don’t get trapped, consult an experienced real estate attorney www.mattweidnerlaw.com
