Who you, a Guru? After you read these 102 Bankruptcy tips, you'll be one. But we're looking to recruit a Guru to blog, write a 101 tip Bankruptcy book, and become a leader of this community.
Hot topics for both consumers and webmarketers on WebmasterRadio.FM
Every Wednesday, 4PM Eastern.
October 12, 2007, Newsletter Issue #33: Colorado Bankruptcy Lawyers And Real Estate
1
Tip of the Week
Legal Helpers Tip: If you live in Colorado, are a co-owner of real estate with someone who is about to file bankruptcy, and you are not married to the future filer, you need to consult qualified Colorado bankruptcy lawyers for assistance. This situation can become very “sticky” very quickly. Here are a few things to consider.
First, you are most probably a signer on the mortgage, which could become a real problem. If you do nothing and your ex-friend/partner is discharged, you will be responsible for the entire mortgage balance due.
Second, if the bankruptcy court orders the property sold to generate funds to pay off the mortgage, are you willing to lose some potential equity/profit since the house may be sold under “fire sale” terms? Even worse, if you live in the home, you risk becoming homeless.
Since bankruptcy laws are federal, your Colorado bankruptcy lawyers face the same dilemma as would Florida bankruptcy lawyers, Missouri bankruptcy lawyers, or North Carolina bankruptcy lawyers. You may want to consider offering to assume his/her portion of the mortgage debt in return for receiving full ownership in the property.
2
About LifeTips
Now one of the top on-line publishers in the world, LifeTips offers
tips to millions of monthly visitors. Our mission mission is to make
your life smarter, better, faster and wiser. Expert writers earn dough
for what they know. And exclusive sponsors in each niche topic help us
make-it-all happen.
LifeTips is part of ideaLaunch, the hub for a group of websites offering
solutions that help clients improve mind share, market share and profit online.
