Bountiful Short Sales: Why Lenders Back Off When Threatened With Bankruptcy

Bountiful UTAH – Bankruptcy is one of the scariest words a lender can hear. A bankruptcy filing can stall their ability to foreclose by 6 months, and sometimes as long as a year.


Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.


The lenders know that most bankruptcies will cause them to lose the ability to pursue you for any losses. This means they can’t go after you for any upside down debt.


The only thing a lender gets in a Chapter 7 Bankruptcy is any collateral they have on a loan. So they can foreclose on your house, but that is about the only thing they can do.


They can’t garnish your wages or bank accounts. So use the bankruptcy threat in your negotiations. Lenders know how much it will hurt their ability to collect from you.


The most effective technique that we have seen is to have all negotiations go thru a bankruptcy lawyer. The lawyer knows how to negotiate from a position of power.


The lawyer will also know full well exactly how bankruptcy will hurt the lender. Even if you have no intention of declaring bankruptcy the lender will get scared and cave in.


Then you can get the loan modification you deserve. Thinking about a short sale?


I can help you short sale your property and never pay the bank another penny. Send me an e-mail at utahhomesaver@gmail.com. I will contact you for a free consultation.


When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (801) 651-0707


Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.


Thinking about a loan modification? Our Layton loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.


Thanks for reading this, dave forsberg.


dave is a Real Estate Agent at Prudential Utah Real Estate - Bountiful. Layton Short Sales Realtor:


Phone: (801) 651-0707. utahhomesaver@gmail.com.


Greater Salt Lake Short Sales. Real Help for those that need it most.


View My homes for sale at BuyUtahNow.com.