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Getting Professional Legal Advice is the Best Choice.

Yesterday’s market has created problems with property owners paying their mortgage timely or affording their mortgage, which leaves them with difficult decisions to make.

Try to keep the property and continue to be house poor and struggle with the stress of trying to keep up.

Attempt a short sale.

Let the home go to foreclosure.

File for Bankruptcy

In any event, one thing everyone should remember is that there are options. Choosing the best option requires professional advice.

An attorney is worth a consultation fee. When making decisions that will determine how your future may turn out, then it should be taken seriously. When a client calls me regarding concerns that have anything to do with the above scenarios, I always suggest a consultation with an Attorney. Fresh professional ideas dealing with a bad situation may help relieve some of the stress your clients are facing. They will remember you for that.

After checking around I noticed that a lot of Attorneys give free, $50, $75, $100 consultation fees to new clients considering bankruptcy. You get, at the very least, a half hour with someone that may be able to help make your clients feel a little relief and give them new hope during the tough times.

Posted by Stella Barbour - Real Estate Agent - Serving Northern Virginia on 01/12/2008 09:30 PM

Comments (11)

short sale, loan, hardship, sell home, mortgage, foreclosure, virginia, northern virginia, loudoun, buyer, seller, home, bankruuptcy, attorney, consult

11 Comments on Getting Professional Legal Advice is the Best Choice.

Great advice. Something we need to remember no matter how long we have been in the business 'Consult and Atty".

01/12/2008 10:02 PM

by Crossville Real Estate Blog Christina Williams (FIRST REALTY Company Crossville)

I know what you mean. Thanks for commenting.

01/12/2008 10:06 PM

by Stella Barbour - Real Estate Agent - Serving Northern Virginia (Jobin Realty - Real Estate Agent)

Excellent advice, Stella. People always have choices. When faced with a decision involving hundreds of thousands of dollars, a consultation fee with an attorney is a pittance considering the expertise you receive in return. Very good post.

01/17/2008 08:28 PM

by Fairbanks Real Estate Broker Jesse Clifton (Jesse & Kathy Clifton, REALTORS - 907.699.6024 - )

Jesse & Kathy - Thanks for commenting. You are right about paying a small consult fee on such a large investment decision.

01/18/2008 08:37 AM

by Stella Barbour - Real Estate Agent - Serving Northern Virginia (Jobin Realty - Real Estate Agent)

Does anyone know of any free independent legal hotline for people in foreclosure. I would think this is a good idea for local, state and federal governments.

02/25/2008 08:28 PM

by Jason Hector (Coldwell Banker Prime Properties)

Jason - Not sure of any free legal hotline. But I think there are some attorneys out there that will give you a free consultation.

02/27/2008 02:00 PM

by Stella Barbour - Real Estate Agent - Serving Northern Virginia (Jobin Realty - Real Estate Agent)

Great information Stella...

02/27/2008 02:20 PM

by Mike Jackson (Realty World Global)

Mike - Thank you.

02/27/2008 02:25 PM

by Stella Barbour - Real Estate Agent - Serving Northern Virginia (Jobin Realty - Real Estate Agent)

Good post and yes it is very important that we as agents remember where I advice ends and we reccomend the services of a licensed attorney

03/02/2008 10:06 AM

by Paul Moye, Broker, ABR, GRI, CSP, e-PRO (Keller Williams Realty Franklin )

There is also deed in lieu of foreclosure (i.e., giving the house back to the bank which forgives the loan).

03/02/2008 11:30 AM

by John Hokkanen → Encinitas Real Estate (SurfTheTurf.com)

Paul - Thanks for stopping by and commenting.

John- I forgot to add that since I have not seen the banks doing that these days. Thanks for pointing that out.

03/02/2008 11:50 AM

by Stella Barbour - Real Estate Agent - Serving Northern Virginia (Jobin Realty - Real Estate Agent)

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