We are often asked, “should I short sale my property if I already filed bankruptcy?”

Maybe.

There may be several reasons to proceed with either a deed-in-lieu of foreclosure or a short sale of  your home after your bankruptcy discharge is granted and your bankruptcy case is closed:

• To avoid paying Homeowner’s insurance.
• To avoid being liable for any injuries sustained on the property.
• To avoid liability for HOA dues.
• To avoid liability for failure to maintain the property.

The above reasons may cause you to lean towards a short sale or deed-in-lieu of your property. However, it would be wise to consult with an attorney before making a final decision.

We proudly assist residents of Long Island: Nassau county, Suffolk county, New York City: Queens, Brooklyn, Bronx, Staten Island, and Manhattan. Call (516) 858-2620 to arrange a FREE consultation with a bankruptcy attorney!