Archive for the ‘Real Estate’ Category

May 8th, 2013

Bankruptcy and Divorce Part I: Most Creditors Can Come After Both Ex-Spouses for Community Debt

A competent Arizona bankruptcy lawyer will remind you that a divorce decree is simply an agreement between two ex-spouses. Your creditors could care less which spouse agreed to pay which debt in your divorce decree. Most debts incurred during a marriage is the responsibility of both ex-spouses, even if the debt is only in one spouse’s name.

April 29th, 2013

Will Bankruptcy Hurt My Credit and Prevent Me From Buying Another House?

There is this myth that if you file for bankruptcy, you won’t qualify for a home loan in the near future. As an Arizona bankruptcy lawyer and Arizona real estate lawyer, I always advise clients that they will be able to qualify for financing so long as they save money for a downpayment and continue to improve their credit.

August 11th, 2012

Using Chapter 13 to Come Current With Mortgage Payments

Unlike a Chapter 7, a Chapter 13 provides the mechanism for a debtor to come current with overdue mortgage payments. But beware! If you lack regular monthly income and you refuse to curb your expenses, a competent Arizona bankruptcy lawyer will advise that Chapter 13 may end up being a waste of time and money.

June 15th, 2012

Can I be Taxed if My Debt is Forgiven, such as in a Short Sale? If the Mortgage Forgiveness Debt Relief Act of 2007 Still Applies, Maybe Not!

If a debtor owes a debt to a creditor and the debt is cancelled or forgiven, the amount of the forgiven debt may be taxable income. The debtor should consult with a competent Arizona real estate lawyer or Arizona bankruptcy lawyer to determine if current laws will exempt such forgiven debt as taxable income. One wrong decision could cost you thousands and thousands of dollars in tax liability.

June 2nd, 2012

Arizona Residential Landlord and Tenant Act: Protect Your Own Southfork

As an Arizona real estate lawyer, I advise both residential landlords and tenants to make sure they are complying with the Arizona Residential Landlord and Tenant Act. Landlords and tenants have rights, but one mistake could expose them to severe liability. A landlord may also need to consult with a good Arizona bankruptcy lawyer to prevent a tenant’s bankruptcy from delaying the eviction process.

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