Summary: Like any type of investing, real estate investing doesn't always go as planned. Many people with the best intentions bought at the peak of the market and are now feeling stuck with some troubled properties. So what do you do when you need to sell your property but your loan is a larger than what it's worth? On this episode, Kathy interviews Eric Nixdorf, the former managing partner, bankruptcy department head, and primary litigator of a leading Bay Area law firm as well as the former CEO of a successful Bay Area real estate investment company. Eric has been the principal attorney for a number of prominent tax, bankruptcy and real estate litigation cases. He is both a licensed California attorney and real estate broker with over 16 years of legal experience and a very unique combination of tax, real estate, bankruptcy, litigation and business expertise. Today, Eric's firm, Intelligent Legal Solutions, specializes in helping homeowners, real estate investors and small businesses solve their tax, real estate, debt and other legal problems. Some of the issues Eric explains on this show: >> What are your options with an "upside down" property >> How to decide if you are in too deep >> How do you choose between a short sale, foreclosure or bankruptcy >> How to navigate the possible ramifications of a "strategic default" >> Why it's vital to know the rules of the states in which you own property in >> How many years a foreclosure affects your ability to get a home loan >> How many years a bankruptcy affects your ability to get a home loan >> And many other important lessons from an expert who deals with these situations every day For more about Eric Nixdorf and his law firm, visit: www.intelligentlegalsolutions.com .
