Bankruptcy Attorneys in Charlotte/Mecklenberg, NC
April 22, 2014 7:36 AM Subscribe
We are currently saddled with an out-of-state mortgage that we cannot afford to pay.
posted by anonymous to Work & Money (5 answers total)
We are attempting to short-sell the house, but at this point we are 20K under what we owe and are still getting no offers. I asked a friend who is a bankruptcy lawyer, and s/he said s/he usually recommends avoiding short sales entirely because of bits of the federal tax code (61 and 108, specifically) that mean we get spanked with taxes for the "income" of the difference between our mortgage amount and the amount the house finally sells for. I will also note that we cannot afford to pay all of our current expenses in addition to this mortgage, and are racking up credit card debt in the interim at a highly unsustainable rate.
So. We need a bankruptcy attorney for the state where we live (specifically one near Charlotte, NC) who can review our finances and tell us if we should continue to pursue the short sale or just bail and go for the foreclosure. Can anyone direct us to the Guy, locally speaking? I'm hesitant to just grab the first names off a Google search and would prefer some testimonials.