Real Estate Debt Problems

Real estate debt related problems are not uncommon.  They can take many different forms from simply being behind on mortgage payments to complicated multiple real estate holdings that have huge amounts of money owed on them.  It is not unusual for people to complain that they are upside down on their land holdings or in other words they owe more on the real estate that it is worth if sold on the market.  The problem with being upside down on a home is especially distressful to many people since  their home is the largest investment they will ever make.   They sometimes cannot afford to make payments on it yet cannot sell it and get enough money to pay off existing debt on it.  The problem is further compounded by fearing that if they lose their house they will not only have credit problems but no where to live.   Sometimes people experiencing real estate problems fail to seek out legal advice in a timely manner.  Bankruptcy relief that will help real estate debt problems may be available for eligible debtors.  Similarly some people fail to get legal help before buying real estate only to later learn that there are problems with owning it.  Since real estate for many people is  their largest investment it is important not to put it in jeopardy or run the risk of future problems by failing to take the necessary steps to protect that asset.  Whether a person is  selling real estate, buying real estate, leasing real estate or has problems related to real estate it is a sound idea to get legal advice from a licensed lawyer.  Homeowners or commercial real estate owners often procrastinate in attending to growing debt on real estate until faced with  losing it in foreclosure.   A more useful approach is to get legal assistance to stop the loss of a home or real estate before foreclosure.  Prompt attention to dealing with real estate problems may lessen the chance that it will be lost in foreclosure and in some instances provide a person a chance for a new beginning.

This blog is not intended to give legal advice and does not do so.  Reading this blog does not crete an attorney-client relationship or substitute for consulting with a licensed lawyer.
We are a debt relief agency.  We help people file for relief under the bankruptcy code.

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