Realtors, Bankruptcy Attorneys are your friend.

It is a shame that an adversarial relationship is the norm between most Realtors and Bankruptcy Attorneys. In the world of working with distressed homeowners we all need to work together to find the best solution for the homeowner NOT for the Realtor or Bankruptcy Attorney.

It is a terrible shame that there are people that search out people in distress and take advantage of them so they may benefit financially. Realtors and Bankruptcy Attorneys are in a position of, on their own, destroy the homeowners they are supposedly working to help. The reason - they both are afraid if the other is in the mix that they might not 'get the deal'. Let's all be professional here and network with each other to help those searching for our unique skill sets.

Realtors are you aware that your marketing statements or conversations with homeowners stating that completing a short sale will be best and that if they need a bankruptcy they can do that later. Welcome to your potential lawsuit in a year or so! For some homeowners the completion of their short sale may eliminate their ability to file for bankruptcy later.

Bankruptcy Attorneys need to know that after filing for bankruptcy the long term interest of the homeowner may best be served by completing a short sale. Consultations with a FICO insider that works the modeling stated that early in 2010 adjustments will start to reflect the advantages of a short sale where the homeowners contributes to reducing the banks overall loss. Versus a homeowner that does not and allows the home to foreclose.

Now let's all be realistic and remember that no matter what our personal thoughts on loan modifications are that there are some great resources for that as well.

So network with professionals and create alliances that will support the best interest of the home owner and not your pocket book.