Getting Professional Legal Advice is the Best Choice.

By
Real Estate Broker/Owner with NoVa Brokers LLC 0225 094634 VA/ 643686 MD

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. 

 

 

 

 

http://www.stellabarbour.com/default.asp

 

Posted by

FOR ALL YOUR REAL ESTATE NEEDS

 

STELLA BARBOUR

NoVa Brokers LLC

1483 Chain Bridge Road Suite 103

McLean, Virginia 22101

571-814-3002 OFFICE

703-999-6104 CELL

571-281-2866 FAX

www.novabrokersllc.com

stellabarbour@yahoo.com

Licensed in Virginia & Maryland

 http://www.novabrokersllc.com/

 

 

 

Comments (12)

Christina Williams. REALTOR® TN property search & local insights
First Realty Company - Crossville, TN
Great advice. Something we need to remember no matter how long we have been in the business 'Consult and Atty".
Jan 12, 2008 02:02 PM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
I know what you mean.  Thanks for commenting.
Jan 12, 2008 02:06 PM
Jesse Clifton
Jesse Clifton & Associates - Fairbanks, AK
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.
Jan 17, 2008 12:28 PM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland

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

Jan 18, 2008 12:37 AM
Jason Ian Hector
Action Investments and Hawaii Pacific Realty - Porter Ranch, CA
Real Estate Broker in California and Hawaii
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.
Feb 25, 2008 12:28 PM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Jason - Not sure of any free legal hotline.  But I think there are some attorneys out there that will give you a free consultation.
Feb 27, 2008 06:00 AM
Michael Wayne Jackson
Coldwell Banker - Novato, CA
Broker - Seniors Real Estate Specialist Novato
Great information Stella...
Feb 27, 2008 06:20 AM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Mike - Thank you.
Feb 27, 2008 06:25 AM
Paul Moye
Benchmark Realty - Franklin, TN
Broker, GRI, SRES
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
Mar 02, 2008 02:06 AM
John Hokkanen
SurfTheTurf.com - Encinitas, CA
Encinitas Real Estate

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

Mar 02, 2008 03:30 AM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland

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.

Mar 02, 2008 03:50 AM
Cedric (Ced) Reynolds
Covina, CA
(909) 263-4569

Stella,

Good post.  Because I help people who have legal challenges, I can appreciate it when someone outside our industry points people in the right direction.  Thanks for helping consumers and our fellow Active Rain professionals.

Ced

Nov 03, 2008 02:33 AM