Hidden Costs of Bankruptcy - What To Know If You Are Facing Foreclosure in Louisville

Real Estate Agent with Keller Williams Realty Louisville East (502) 664-7827

If you or someone you know is facing overbearing financial obligations and have considered declaring bankruptcy, the whole world—not just a mortgage—may feel upside-down. But during this stressful time, it is important to understand the processes and consequences of bankruptcy and any feasible alternatives in order to make the most informed decision.

Important disclosure: I am not an attorney, I am a Realtor right here in Louisville, KY. You should consult with an attorney to verify all relevant legal aspects of foreclosure and bankruptcy.

Bankruptcy stays on your credit for many years. The hidden costs of a bankruptcy include:

  • Inability to qualify for some purchases of items, or,
  • Much higher payments on loans for cars and other essentials.
  • Possible denial of employment. Some workplaces run a candidate's credit and frown upon a history of bankruptcy.
  • The emotional toll of bankruptcy, especially if it could be avoided.

In many cases the largest debt and the largest monthly payment is the mortgage. By utilizing the short sale alternative, you can get rid of that nasty mortgage. That payment was eliminated and a lower cost rental payment can be substituted. If your payment was lowered, would that eliminate your need to file bankruptcy?

A short sale is a dignified alternative to foreclosure and bankruptcy, with less harmful effects on a homeowner’s credit score, future home loan eligibility, employment and security clearance.

Click here for more information about bankruptcy and the alternative solution via a short sale.

Please call me at any time for a friendly and no-pressure conversation.

Posted by



Dave Halpern

Realtor, Louisville Short Sale Expert

Keller Williams Realty Louisville East

(502) 664-7827


Sellers looking for foreclosure help in Louisville, KY should call Dave Halpern, Realtor, Louisville Short Sale Expert, Louisville Short Sale Expert, Keller Williams Realty Louisville East, (502) 664-7827. I will dedicate to you all the time you need for a full explanation of the process. We are compassionate, caring and patient. I will listen to your needs and wishes and customize a strategy to meet your circumstances. In a short sale your lender typically pays your closing costs and commissions.

I will provide you detailed information about foreclosure options and short sales. We help dozens of sellers avoid foreclosure every single year in Louisville, Jefferson County, Oldham County, Bullitt County, Shelby County, Nelson County and Spencer County.

We can help. You have options. Call even if you think your house isn't sellable. Put an expert real estate agent on your side. Many testimonials available.

Dave also trains other Realtors how to perform successful short sales.

Sell or buy a home - start the process at Dave Halpern Real Estate Group

IMPORTANT NOTICE: Dave Halpern, Realtor and Keller Williams Realty Louisville East are not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit. We do not provide legal advice, you are encouraged to seek legal counsel. We cannot and will not charge upfront fees.


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Louisville Short Sale Expert
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