Learn the facts from experienced attorneys and real estate brokers about how to decide which option is for you, when to start the process and what to expect, the ramifications and recourse if you do, and how bankruptcy fits into the picture. If you are upside down on your mortgage or nervous about how long you can continue making your payments, this free seminar is for you.

What you will learn in this seminar:

• The Anti Deficiency Statutes - what happens if I "walk away" from my home?
• Deficiency Judgments - what are they and how are they obtained?
• Foreclosure on your rental property: Impact on lease and tenant rights.
• Deed In-Lieu- what is it and is it a option?
• Short Sales - what are the benefits and what are the problems?
• Loan Modifications - what to do when a bank doesn't want to work with you?
• What tax code I can use to avoid tax liability to the IRS?
• What are the tax liabilities in a short sale vs. foreclosure situation?
• What to do when a lender does not give you a 1099C or a 1099A after a short sale or foreclosure.
• Is a short sale better that a foreclosure for a tax or credit prospective?
• How soon after short sale or foreclosure can you get another mortgage?
• How to create a new credit profile after a short sale, foreclosure or bankruptcy.

Taught by: Laura Bramnick, Attorney, Berens Kozub Kloberdanz, PLC
Bob Reichard, Broker, Berens Kozub Kloberdanz, PLC

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• What assets are protected in a bankruptcy?
• What should you do before filing bankruptcy?
• What should you NOT do before filing bankruptcy?
• The importance of timing in filing the bankruptcy.
• What chapter of bankruptcy should be filed and why!
• What bankruptcy can do for underwater real estate—lien stripping and cram down.
• What to do about taxes and judgment liens?
• What is a discharge?  Who can get it?
• What debts are discharged and what debts are not.

Taught by:
Allen Butler, Attorney, Butler Law Office

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• Understand the essential process of purchasing a bank-owned, short sale or properties at a Trustee Sale
• Determine what questions to ask before writing an offer
• Know what disclosures are legally required of all sellers in order to level the playing field for buyers
• Become familiar with new and special forms associated with purchasing real estate
• Examine current financing options and restrictions
• Identify properties and areas of the Valley that will appreciate the most and why

Taught by:
Bob Reichard, Broker, Berens Kozub Kloberdanz, PLC

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• What is it? When does it occur?
• What is the step-by-step procedure of buying and bailing?
• How can you reduce your liability and avoid committing fraud as a buyer/seller?
• What is the alternative to buying and bailing?
• How does buying and bailing fit in today's market?

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