Real Estate Law is one the areas of law where everyone who is NOT a Real Estate attorney thinks they know everything. Real Estate is talked about on the news, in politics, on the radio, among family members and at the dinner table. Everyone assumes that because they read some articles about Real Estate and watch CNN, they understand real estate and how it works. At least once a week, I receive a phone call from a client who starts out the conversation with "My friend/brother/sister/mother/aunt told me that…" More often than not, the information they convey to me is wrong.
The five minute blurb about loan modifications that you hear on the radio is only a very small piece of the story. Reading an article in the newspaper about local Real Estate is a very small piece of the story. Reading a blog post about short sales is a very small piece of the story.
Your friend/mother/sister/uncle has different financials than you do and their situation is different from yours. Just because something worked for them does not mean it will work for you.
Be informed. I am not saying that you shouldn't. However, make sure you have the advice of a Real Estate attorney when it comes to your Real Estate investments.
