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3 weeks 1 day ago

Bankruptcy OverviewMost people considering filing for bankruptcy will ask: What are bankruptcies? What is the difference between Chapter 7 bankruptcy and Chapter 13 bankruptcy? Which bankruptcy options am I eligible for? Your Vancouver WA bankruptcy attorney will be able to give you legal advice you as to which bankruptcy chapter best suits your needs.
What Is Chapter 7 Bankruptcy?
Chapter 7 is the more traditional type of bankruptcy and is often referred to as a “liquidation” or “straight” bankruptcy. In a Chapter 7 proceeding, the Court appoints a bankruptcy trustee to oversee your bankruptcy case. The trustee has the responsibility of:

  • Determining if you have certain assets that are not considered exempt under the bankruptcy law.
  • Selling such assets.
  • Using the proceeds to distribute among creditors

The ability to exempt assets in bankruptcy cases depends on two things.

  • First, how much the assets are worth.
  • Second, what state or states have you lived in over the course of the three years prior to the filing of your bankruptcy petition.

During the initial consultation, a bankruptcy law firm will quickly determine whether or not you are likely to have any non-exempt assets. The fact is that well over 95% of Chapter 7 cases are called “no-asset” cases. This means that there are no assets to distribute to creditors.
Meeting of the Creditors in Chapter 7
Roughly 30 days after Chapter 7 bankruptcy filings, debtors have an obligation to attend a brief hearing with the trustee in bankruptcy called the “341(a) hearing,” or “meeting of creditors.” The hearing is usually less than five minutes long and usually not attended by creditors. At the hearing, bankruptcy filers are asked a series of questions under oath to find out if they have any non-exempt assets, or if there are any legal issues with the case. Because most bankruptcy firms anticipate these questions prior to the filing of the case, there are rarely any surprises. Generally, within two months after the conclusion of the meeting, those who filed a petition for bankruptcy receive a notice through the mail of their bankruptcy discharge.
Dischargeable Debts in Bankruptcy
While most types of debt are dischargeable in a bankruptcy, there are several exceptions, the most common of which are:

  1. Debts incurred by means of fiduciary misconduct, malicious and willful injury, or embezzlement.
  2. Most federal and state income taxes. However, if the taxes are more than three years old, and they meet other criteria, some taxes can be discharged in bankruptcy. Some taxes that cannot be discharged in Chapter 7 can be dealt with in a Chapter 13 bankruptcy.
  3. Student loanand other educational debts. The Bankruptcy Code allows for a discharge of student loans upon the showing of “undue hardship.” However, that section is construed so narrowly such that it is extremely difficult to discharge student loans in bankruptcy.
  4. Personal injury or death caused to others while driving under the influence of alcohol or drugs.
  5. Debts incurred by fraud such as debts incurred without the plan to pay or debts incurred by use of a false financial statement or other written document.
  6. Criminal fines, criminal restitution and traffic tickets.
  7. Child support and spousal support or alimony.
  8. Divorce decree judgments.

With secured debts such as those involving car loan and mortgage payments, you must normally either keep paying on the debt and keep the property (and discharge the entire obligation owed to the secured creditor).
What Is a Chapter 13 Bankruptcy?
Chapter 13 Bankruptcy is debt reorganization or a debt repayment plan. In this type of bankruptcy, a “Chapter 13 Plan” is filed with the Court. Under the Chapter 13 Plan you will pay back some part of what you owe over the course of a three to five year period. You will likely continue to pay your ongoing mortgage and car debts on your own. However, you will avoid having to make a series of payments every month to all your remaining creditors. Instead, you can make one monthly payment to the trustee who, in turn, will distribute available funds to these creditors. Though there are exceptions to this rule, the size of your payment will largely hinge on the amount of your household monthly income and expenses.
If you have disposable income left over after you deduct your monthly living expenses, such as entertainment, gas and electric, car payment, mortgage, etc., from your monthly net income, that amount will be distributed by the trustee to your creditors. Of course, the amount that is left over every month and distributed to your creditors over the course of 36, or even 60 months is rarely going to come close to what you actually owe. Moreover, in Chapter 13, you are no longer responsible for paying off the sort of ridiculous penalties and interest charges that you would otherwise have to pay during the same time span if you were not in a chapter 13 debt reorganization plan.
Why File Chapter 13?
Common reasons for you to file Chapter 13 are:

  1. To protect assets that you might lose in a Chapter 7 case because you have too much equity.
  2. To pay non-dischargeable debts (most often taxes and child support) through a Chapter 13 Plan as opposed to what the creditor might demand.
  3. To prevent foreclosure on a home, or a repossession of a car or other secured property
  4. To obtain a discharge of certain debts that are not dischargeable in Chapter 7.
  5. To achieve debt consolidation and pay as much as possible over the term of the Chapter 13 Plan without interference from creditors.
  6. To “rewrite” auto loans when the value of the vehicle is less than the amount owed.
  7. To obtain debt relief when you filed a Chapter 7 case within the past 8 years.
  8. To be eligible for bankruptcy if your regular income is in excess of certain limits.

Meeting of Creditors in Chapter 13
A meeting of creditors is held with the Chapter 13 Trustee about 30 days after filing. During that meeting, the Chapter 13 Trustee will ask some pretty simple questions about your situation in order to make sure that the proposed Chapter 13 Plan complies with bankruptcy laws. As with Chapter 7, this hearing usually lasts about five minutes. Usually, none of your creditors attend the hearing.
Approximately one month after the creditor’s meeting, the Bankruptcy Court will hold a hearing to confirm a Chapter 13 Plan. The debtor rarely needs to attend that hearing. The court will confirm the Plan unless the Chapter 13 Trustee or one of the creditors has some objections to it. If they file objections, you can usually resolve them through negotiation with the objecting party so that you can have the Plan confirmed.
Are There Drawbacks to Filing Chapter 13?
While Chapter 13 can be a very powerful tool for the debtor, Chapter 13 relief does come with some drawbacks:

  1. A Chapter 13 debtor is prohibited from incurring debt while the case is active without the approval of the Chapter 13 Trustee.
  2. Payments may increase if income increases while the case is active. Chapter 13 (In Oregon)
  3. Income tax refunds normally must be turned over to the Chapter 13 Trustee during the first three years of the Plan. Earned income credit tax refunds do not have to be turned over to the Trustee.
  4. Trustee monitors income by requiring that copies of tax returns be provided each year.
  5. Fluctuation in income can make it difficult for a debtor to complete a Chapter 13 case.
  6. Once all of the monthly payments are made pursuant to the terms of the Chapter 13 Plan, any remaining debts owing as of that time except child support, criminal fines and restitution, some taxes and student loans are normally discharged.

What Is Bankruptcy? Get Answers from a Vancouver WA Bankruptcy Lawyer Today
Learn more about what is bankruptcy and which chapter is the best option for you. Contact our offices today for a free legal consultation.

The post Bankruptcy Overview appeared first on Vancouver Bankruptcy Attorney | Northwest Debt Relief Law Firm.


3 weeks 3 days ago

Expert Quotes on Seniors Getting Help With Debt
Debt isn’t fun at any age, but it can be especially scary for senior citizens.
seniorsSeniors normally don’t have regular paychecks coming in, and the bulk of their income may comprise of Social Security checks. They’re often dealing with life changes such as retirement or medical issues. All of the sudden, they have less money coming in monthly than they have in decades, yet their expenses are greater, and their debt is accumulating.
There are multiple avenues open to seniors, even if a situation seems hopeless.
For example, if there’s nothing you can do about your debt, you can still handle debt collectors a certain way so they treat you fairly or leave you alone. That’s a huge burden off your shoulders. Additional options in your situation may include bankruptcy, downsizing, reverse mortgages or debt consolidation.
Of course, each path has its pros and cons. This guide covers various methods of getting help with debt and who can help with each approach.

Above is a quote from A Guide for Aging Adults

MUSINGS FROM DIANE:
seniorsWe all must try to protect the most vulnerable in our society – that includes our seniors.  Most are on a fixed income and cannot weather unexpected expenses.  For the most part they are proud or embarrassed and do not want to ask for help, even their own family.  Look out for your neighbors, friends and family and offer to help them navigate our changing financial world.  Remember you are going to be in their shoes sometime in the future.

How Can I Help You?
The post Seniors – A Guide to Getting Help with Debt appeared first on Diane L. Drain - Phoenix Bankruptcy & Foreclosure Attorney.


1 month 11 hours ago

Any individual may file for bankruptcy. For that matter, partnerships, corporations, or business trusts may take advantage of bankruptcy protection too, excluding certain types of business organizations such as banks and insurers. When the filer of the bankruptcy petition is the debtor, then it’s a voluntary bankruptcy. According to bankruptcy laws, a voluntary petition for bankruptcy may be filed under bankruptcy chapter 7, 9, 11, 12, or 13 of the bankruptcy code.
Nonetheless, Oregon bankruptcy law also gives the right to creditors to file bankruptcy against a debtor who is unable to pay money owed. Such a petition is called involuntary.
Involuntary Bankruptcy
Involuntary bankruptcy filings are more frequently done on behalf of businesses. It’s also done against individuals, but the usual targets are debtors of means, those who have assets for liquidation that can be used to pay back debts. Creditors usually see no point in filing involuntary bankruptcy against a debtor whose assets aren’t sufficient to cover debt payments. Such a move could backfire, triggering an automatic stay, which is part of the bankruptcy protection that people in financial distress count on to stop their creditors’ debt collection efforts.
Involuntary Bankruptcy Chapters
Creditors have to fill out bankruptcy forms and file their petition with the bankruptcy court. This can be done under bankruptcy chapter 7 or 11 of the bankruptcy code, but not so under chapters 13 and 12. They have to justify their decision to file bankruptcy for someone else. The usual reason, of course, is that the debtor has the means and yet is unable to pay the money owed. Another possible reason is that control over the debtor’s assets has been ceded to an agent in the last 120 days, putting a lien in place.
Opposing the Petition
The debtor has the right to respond to the petition, and this may be in the form of an opposition, in which case a bankruptcy judge will have to rule for or against keeping the petition intact. If the bankruptcy case is dismissed, the creditor may be ordered to compensate the debtor for the trouble that the petition caused. Bankruptcy cases that are sustained move forward as in the usual bankruptcy proceedings. Unopposed filings simply continue through the regular bankruptcy process.
Involuntary Bankruptcy Limitations
Bankruptcy laws do present some restrictions in relation to filing involuntary bankruptcy. To begin with, single creditors usually don’t file involuntary bankruptcy on their own unless the money owed them reaches the threshold amount, or the debtor owes fewer than 12 unsecured creditors. In the event that there are 12 or more unsecured creditors, involuntary bankruptcy must be filed by at least three of them and the amount owed them must collectively reach the threshold amount. For clarification, unsecured debt refers to debt that has no asset attached to it. Secured creditors usually don’t bother filing for involuntary bankruptcy since they can simply resort to repossession or foreclosure in case their debtor fails to continue making car loan or mortgage payments.
As for other notes regarding involuntary bankruptcy, it cannot be filed against joint debtors. Neither can it be filed against certain organizations such as banks and credit unions, insurers, and nonprofits. Since family farmers and fishermen file under Chapter 12, involuntary bankruptcy may not be filed against them either. Talk to a bankruptcy lawyer to find out about other limitations.
Oregon Bankruptcy Lawyers
If you have serious financial problems, you may want to look into debt relief solutions. In case bankruptcy is inevitable, whether you do the filing or your creditors do, it’s important to seek legal advice right away. Contact us at Northwest Debt Relief Law Firm and talk to an experienced bankruptcy attorney who will review your case and go over your options with you.

The post Involuntary Bankruptcy in Oregon appeared first on Vancouver Bankruptcy Attorney | Northwest Debt Relief Law Firm.


1 month 5 days ago

When is it too late to stop foreclosure? In other words, when is the absolute latest you can file bankruptcy and stop a foreclosure sale? The truth is, it’s not over until it’s over. You can file right up to the day of sale.
Understanding the Foreclosure Timeline
In a typical foreclosure situation, your lender will send you a notice of default and you still have an opportunity to repay the delinquent balance and rehabilitate the loan. The lender will set the deadline.
If you cannot or don’t repay the delinquent balance, the lender will proceed with foreclosure. Foreclosure usually begins 90 days after the last payment. After 120 days, the lender must issue you a notice of intent to sell. They will sell the home at a public auction. So long as the deed has not been transferred to someone else, you can stop the foreclosure at any time, including the date of the auction.
Declaring Bankruptcy to Delay the Sale
Once you petition the court for a bankruptcy, all creditor actions against you must immediately stop. This includes foreclosure. There are, however, limitations to this. You must be able to repay the arrearage, costs related to the foreclosure, and make future mortgage payments on your home. Stopping the sale does not mean stopping the foreclosure. It means stalling the sale.
Additionally, the injunction placed on your creditor can be lifted if the creditor can show that you either have no intention of making payments on your home or you don’t have the fiscal ability to repay what you owe. Even if the automatic stay is lifted, this will buy you some extra time.
Should I File Before or After Foreclosure?
For most Americans, bankruptcy is an unattractive option because it smacks of failure. After all, you should be able to repay your debts, right? But sometimes things happen that are outside your ability to control. Your spouse may become ill, or you may experience an unexpected injury. Not only are you losing income, but you also have medical expenses to worry about.
You are usually better off filing bankruptcy before your home is in foreclosure. This is because, in certain situations, your debt can survive bankruptcy. This (especially) includes tax debt accrued on the property.
One other thing to consider: While you’re in bankruptcy, which can take some time to work its way through the courts, your lender cannot collect mortgage payments. This will buy you some time to save money and financially regroup. If you wait until the foreclosure process is already in place, you can delay the sale of your home right up until the date it’s sold, but you will very likely have less time to save money. Your lender will likely petition the court to lift the automatic stay and proceed with the foreclosure process.
It’s important to understand your rights as a borrower. If you are facing wage garnishments, creditor lawsuits, and struggling to pay your mortgage, a skilled bankruptcy attorney can help you make the best decision for your situation.
Chapter 13 Bankruptcy Can Help You Save Your Home
Chapter 13 bankruptcy allows you to reorganize your debt. It is ideal for managing secured debts (like mortgages) that you are struggling to pay. In Chapter 13, you and your attorney are required to submit a repayment plan to the court. To save your home from foreclosure, this repayment plan must include any arrearage, homeowner’s association fees, and property taxes that are in arrears. Additionally, you will need to continue making payments on your mortgage.
One of the major benefits of Chapter 13 is that it can strip away second mortgages and home equity lines of credit (HELOC). These debts, which are secured against your home equity, can be converted into unsecured loans. Unsecured loans are considered the lowest priority in Chapter 13. You may be allowed to repay only some of the debt or the second mortgage may be stripped off completely.
When Is It Too Late to Stop Foreclosure? Ask a Dallas TX Bankruptcy Attorney
So when is it too late to stop foreclosure? Even if your home is in foreclosure, you have options. We can help. If you’re worried about losing your home, talk to us early in the process. We can help you understand your foreclosure defense options and determine your best path moving forward. Contact Allmand Law Firm PLLC today to learn more.
The post When Is It Too Late to Stop Foreclosure Proceedings? appeared first on Allmand Law.



1 month 6 days ago

By Stephanie Pagones | Published September 10, 2019 | Transportation | FOXBusiness
Manhattan federal prosecutors are probing possible lending fraud in the New York City taxi industry, according to a report.

The Southern District of New York has been investigating possible crimes, such as bank, mail and wire fraud, over the past month in the wake of a string of suicides involving cabbies who were bogged down by heavy debt related to the ever-increasing cost of taxi medallions, The New York Times reported, citing sources with knowledge of the inquiry.

A U.S. Attorney's Office representative declined to comment to the Times.

The cost of a taxi medallion rose from $200,000 in 2002 to $1 million in 2014, the report states, while industry heads or medallion brokers used questionable lending tactics or provided their clients “insufficient or unclear information,” according to and Executive Summary released this summer by the City of New York pursuant to a 45-day review into the industry’s methods.

As much as 95 percent of the city’s taxi drivers are immigrants, the summary states, many of whom speak English as a second language.

“For current drivers, the largest single issue they face is an unaffordable level of debt. The average median debt owed by surveyed drivers is approximately $500,000,” according to the city record. “[Fifty-one percent] of surveyed drivers stated they struggle to pay their monthly bills and 26% stated they are considering bankruptcy.”

In fact, over 900 livery cab drivers have declared bankruptcy, the Times reported.

The Times interviewed an immigrant from Bangladesh who bought his taxi medallion in 2014 and signed a loan that required him to pay $1.7 million, even though his annual income was only about $30,000. He told the Times that he did not understand the terms of his loan, according to the report.

New York Attorney General Letitia James announced in May she would be conducting her own review of the matter.

https://www.foxbusiness.com/features/federal-prosecutors-probing-nyc-tax...


1 month 5 days ago

If you have fallen behind on your mortgage payments, you’re likely worried about protecting your home. But how can bankruptcy help? Is it possible for you to save your house? Below, we discuss how to stop foreclosure actions through bankruptcy and buy yourself a little time.
How the Foreclosure Process Works
Once your mortgage goes into default, your lender will initiate a foreclosure. How the foreclosure will proceed depends on the language of your mortgage contract. Essentially, the lender will take possession of your home and then sell it at auction. The money from the auction will be put toward legal costs and the deficiency balance, which is what the lender expected to receive minus what they received at auction. In Texas, lenders are allowed to pursue deficiency balances on mortgages.
Delaying Foreclosure With the Automatic Stay
As soon as you file for any kind of bankruptcy, you are entitled to the automatic stay, which protects you from any creditor actions. This means your creditors must cease any collection actions against you, including foreclosure. Typically, this will buy you three to four months of time and offer you some breathing room while you figure out your next steps.
However, your creditor can petition the court to lift the automatic stay in cases where it’s apparent that you have no intention or ability to continue paying on the loan. How much time the automatic stay will buy depends entirely on the type of bankruptcy you’re pursuing and whether saving your home by paying the arrearage and continuing to make payments is economically possible.
How Can Chapter 7 Bankruptcy Help?
Chapter 7 is designed to discharge unsecured debts by liquidating whatever assets you cannot protect under the law. In most cases, however, Chapter 7 bankruptcy isn’t the best option for saving your home from foreclosure completely, since it isn’t designed to handle secured debt, like a mortgage. But in Texas, certain assets can be exempted from bankruptcy liquidation and equity on your home is one of those (with one exception to this rule related to the amount of acreage on your property).
While you can protect your home equity from liquidation and temporarily stop foreclosure, you’re still required to continue making payments on the home. If this is beyond your means, you will lose your home. You will be required to pay both the arrearage and continue to pay your monthly mortgage payments.
However, through the automatic stay, you may be able to use the extra time to your advantage. For example, you can work out a loan modification or short sale with your lender.
How Can Chapter 13 Bankruptcy Help?
Chapter 13 bankruptcies work entirely differently. Instead of discharging debt, Chapter 13 allows you to reorganize your debts into a payment plan. As a result, you get to keep your property.
In terms of stopping foreclosure, you will have to repay the arrearage plus the monthly payments if you want to keep your home. But you won’t have to pay the arrearage all at once. You can prorate the amount owed over three or five years.
Keep in mind, however, that foreclosure proceedings may continue if there is a lack of payment on homeowner’s association fees or property taxes. In that case, the outstanding debt can be repaid over the life of the bankruptcy. But you would have to remain current on any future property and HOA fees.
Second Mortgages and HELOC Loans
If you have taken out lines of credit against the equity on your home, you still have options in bankruptcy. If you are still paying off a primary mortgage, the courts can recategorize a second or third mortgage as an unsecured debt.
In Chapter 13, unsecured debts are the lowest priority. That means that in the hierarchy of repayment, they come last. In some cases, the second mortgage can be stripped off entirely. In other cases, you will be required to pay some (but not all) of the second mortgage.
Federal vs. State of Texas Homestead Exemptions
In Texas, you are allowed to choose between federal and state laws regarding Chapter 7 exemptions. You cannot, however, mix and match.
Texas law offers more total asset protection in terms of dollars and cents and allows you to protect an unlimited amount of equity. But there are restrictions on protecting homestead property. If your property is in an urban area, it cannot be more than 10 acres. In a rural area, you are limited to 100 acres or 200 acres if it is occupied by a family.
The federal homestead exemption allows you to protect around $25,000 in home equity which is doubled for a married couple filing together. Which one is right for you will depend on your needs, your situation, and whether or not you want to keep your home.
Talk to a Dallas TX Bankruptcy Attorney Today
At Allmand Law Firm PLLC, we know how stressful it can be when your home is in danger. But Texas has some of the most debtor-friendly bankruptcy laws in the U.S. To learn more about how to stop foreclosure actions through bankruptcy, contact us today.
The post How to Stop Foreclosure Actions Through Bankruptcy appeared first on Allmand Law.



1 month 1 week ago

Chapter 13 Bankruptcy TimelinesIf you’re considering filing for personal bankruptcy, the two most common types of bankruptcy for individuals are Chapter 7 and Chapter 13 of the bankruptcy code. Chapter 7 is a quicker bankruptcy process, while Chapter 13, which entails debt reorganization, is a more involved undertaking. Chapter 13 filers are made to pay a portion or all of their debt through a repayment plan that lasts three to five years.
Chapter 13 Filing Process
Debtors aren’t required to hire a bankruptcy attorney when they file for bankruptcy, but it’s prudent and recommended to do so. It’s almost imperative when filing under bankruptcy chapter 13, so let that be your first step, preceding the following event sequence.

  1. Document gathering – At first consultation, your bankruptcy lawyer will advise you on bankruptcy information you need to collect, such as pay stubs, tax returns, statements from your various bills, banking, investment, and retirement accounts.
  2. Credit counseling – This has to be done before filing. Find a certified credit counselor. After your session, you will be issued a certificate that you must include in the paperwork when you file your bankruptcy petition.
  3. Paperwork review and filing – Your bankruptcy attorney will review your information and help you procure the necessary paperwork for your petition for bankruptcy. Based on the same information, your lawyer will also will calculate a debt payment plan.
  4. First plan payment – This is due 30 days after filing the bankruptcy case. It can be done through an online payment option, money order, checking account debit, or payroll deduction, depending on what your bankruptcy trustee requires. Remember to also stay current with obligations not included in your plan, e.g. car loan or mortgage payments.
  5. 341 meeting of creditors – About a month after you file bankruptcy, you and your lawyer will have to meet with the bankruptcy trustee assigned to your case. Despite its name, creditors rarely show up. You have to answer questions from the trustee on record and under oath. The trustee makes sure that you understand the plan, as well as the policies and procedures involved.
  6. Education course – Bankruptcy cases entail completion of a financial management course. It may be done online or over the phone. The bankruptcy court won’t discharge a debt unless a debtor education course certificate is filed.
  7. Plan confirmation – A few months after you file a bankruptcy petition, there will be a hearing for the approval of your plan, which must meet various requirements, such as providing payment for overdue alimony, child support, income tax, and other debts that must be prioritized. Arrears on secured debts must also be paid if you intend to avoid foreclosure or repossession. Your income must, of course, be sufficient to make the plan feasible.
  8. Claims resolution – Claims from creditors must be filed with the court. You and your lawyer must go over them to make sure that they’re correct and documented. In case of justified objections, you may have to adjust your plan to accommodate them.
  9. Trustee check-ins – In the duration of your three-to-five-year plan, your trustee will check in with you by asking you to provide tax returns copies or confirmation from creditors that your monthly payments are up to date.
  10. Discharge preparation – Upon nearing the end of your case, you will have to file a certification, proving that your debt payments are current, all your tax returns are filed, and all your financial obligations are met.
  11. Bankruptcy discharge – When you’ve fulfilled your payment plan, filed the correct certifications, and completed your financial management course, the court will issue a discharge that will wipe out all qualifying debts.

Seattle Chapter 13 Lawyers
Chapter 13 bankruptcy proceedings can be complex and quite daunting. Bankruptcy lawyers can guide filers through the experience so that they do every step correctly. If you need to file for bankruptcy under Chapter 13, call us at Northwest Debt Relief Law Firm and talk to one of bankruptcy attorneys for legal advice and assistance.

The post Chapter 13 Bankruptcy Timelines appeared first on Vancouver Bankruptcy Attorney | Northwest Debt Relief Law Firm.


1 month 1 week ago

Part I of this short series on real estate transactions covered the property title. Part II looked at title insurance. Both set the stage for a smooth closing, which is how this real estate series wraps up.
Wynn at Law, LLC takes on five roles for the client – homebuyer or seller – during the closing and beyond. If this production was a movie, Wynn at Law, LLC is the…
Director
The real estate attorney directs communication between all parties in the closing. Realtors, lenders, title companies, sellers, and buyers all follow the lawyers’ lead. There are other cast members involved, too, that aren’t even at the closing table. Contractors and inspectors are two examples. The attorney makes sure their work has been completed in good faith before it’s time for the signatures.
Editor
On the day of closing the attorney is present to review the various instruments associated with the real estate, such as the deed and loan documents, such as the mortgage. In actuality, Wynn at Law, LLC makes sure all documents are accurate days beforehand, if possible. If dates, disbursements, or other details need editing, the details are edited by the attorney and reviewed by all parties before the deed is signed and recorded.
Narrator
If there are any questions at the closing table, the attorney explains documents such as the deed, promissory note, or a closing/settlement statement.
Distributor
While the attorney doesn’t actually handle the checks, money isn’t distributed until the attorney approves of the distribution.
And finally, Wynn at Law, LLC is Public Relations for this ‘movie.’ No production becomes a hit without Public Relations. To us, that means making sure our client is happy, secure, and legally sound after the sale. We want to be on your team for your next real estate transaction, too, whether it’s months or years down the road. Let’s say a new neighbor wants to get in your business about the property line or the HOA suddenly changes bylaws. Your real estate attorney swings in action beyond the closing to protect you and your property.
 
image by Jakub Gojda, used with permission.
The post The Real Estate Transaction, Part III: Closing and Beyond appeared first on Wynn at Law, LLC.



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