California Residents Should Use Nevada Trust to Assist with Underwater Property

According to Zillow, Southern California communities have homes anywhere from 24% to 51% underwater. The Nevada Trust can shelter assets from any type of creditor. Top attorney Gary Fales can help you protect your assets. FREE workshop in CA.
By: Gary L. Fales, Nevada Asset Protection Attorney
 
Nov. 1, 2012 - PRLog -- California Residents Should use Nevada Trust to Assist with Underwater Property

Tustin, California – November 1, 2012 – According to Zillow, Southern California communities have homes anywhere from 24% to 51% underwater. Many of these homeowners must make the choice between seeing their life savings used to pay on a home that may take many years to recover or attempting to negotiate with a bank that doesn’t view this as their problem.

For many investors with rental properties, that means some or all of their life savings are at risk of being seized by the bank if the investor can no longer stand by. According to Attorney Gary L. Fales, “Unlike a primary residence, with investment properties banks have the right to sue for a deficiency if the investor is forced into a foreclosure. That can result in a huge loss borne entirely by the investor.”

As shown by the behavior of investors, folks are confused about what they should do. Attorney Fales states there are generally four options for investors: do nothing, try a short sale, walk away or bankruptcy. Of these options, most choose either a short sale or foreclosure because investors often have too many other assets to seek bankruptcy protection.

Attorney Fales will be presenting investors with their four options on Friday, November 16, 2012 at the Tustin SS Library, 345 E. Main St. “Just as important,” says Attorney Fales, “will be that I will be sharing ideas for investors to protect their other life savings if they must start negotiating with the bank.”

The primary tool he uses is the Nevada Asset Protection Trust. “This trust,” says Attorney Fales, “can shelter assets from any type of creditor.” However there are rules that must be followed. Attorney Fales will discuss these limitations and hopes that investors who attend will get a better feel for what pro-active steps can be done to get out of their financial crisis.

Visit website: http://assetprotection365.com
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Source:Gary L. Fales, Nevada Asset Protection Attorney
Email:***@garyfales.com
Posted By:***@garyfales.com Email Verified
Zip:89117
Tags:California Asset Protection, Short Sale Workshop California, Tustin California, Attorney Nevada
Industry:Legal, Financial
Location:Las Vegas - Nevada - United States
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