Episode 019 - Interview W/ Daren Schlecter

The Clarified Realty Podcast | Real Estate Secrets Your Agent Doesn't Want You To Know!

This week on the podcast, we tackle the tough subject of bankruptcy. When should you declare Bankruptcy? What are the different types of bankruptcy? And more importantly with regards to real estate -- if I declare bankruptcy, will I be able to keep my house. Our guest, is Daren Schlecter, a real-estate attorney with a specific focus on helping clients going through this incredibly stressful time. He starts off by letting us know about what can be done to possibly avoid declaring bankruptcy in the first place (re-organizing your debts, negotiating with your creditors on your own). We then go over the various types of "Chapters" in bankruptcy law, discussing what each one means, what they cover, and what potential impact they have on a homeowner. We then move on to -- moving on. If you do need to declare bankruptcy, how long is it before you can buy another home? It turns out, it may not be as long as you think! Ron covers the timeframes that lenders make you wait before they will loan to you again, and you'll be surprised by how short that time actually is. We also talk about the "stigma" of declaring bankruptcy, how to deal with it, and more importantly, how to get up off your couch and get on with your life. If you are going through a tough time financially and you're not sure what might be your next move -- this podcast has lot's of great information for you and advice. We hope you'll give it a listen -- and please leave comments and reviews!