Host: Rich Szerman

Topic: Debt Ceiling and Bankruptcy Advice

The Real Estate Fix With Rich Szerman – Bankruptcy Expertise– May 12, 2023

Guest: Louis Esbin

On today’s episode of The Real Estate Fix with Rich Szerman, Rich opens up the show with the usual market updates. Currently, the housing market has shrunk by roughly 33%, causing there to be a 1/3rd fewer houses available, causing a small dead-cat bounce. Rich describes the housing market in SCV as falling into three categories – luxury, move-up, and first-time buyer. Later, he discusses the topic of the debt ceiling and the economic impact it’ll have on the real estate market, specifically how rising risks in the treasury will result in higher costs for homeowners. Rich advocates for not viewing the debt ceiling as a partisan issue, rather, to view it as an economic issue that affects everyone equally.

After the first break, Real Estate Fix introduces a guest – Louis Esbin- to the show. Louis is an attorney with an extensive background in bankruptcy law, educating listeners on important topics, such as promissory notes and the 7 types of bankruptcy chapters. Chapter 9 is municipality, Chapter 10 is railroad, Chapter 12 is farmers and fishermen, Chapter 15 is international businesses, Chapter 7 is straight liquidation, Chapter 11 is individuals and corporations, and Chapter 13 is exclusively individuals. Louis also goes into the topic of serial filings and how repeated violations can count as “bad faith filings”.

Finally, Rich and Louis wrap up the show by discussing lien stripping, what it entails, and how it can sometimes lead to undersecured seconds.

Rich Szerman has been helping clients buy, sell, and protect real estate for over 30 years.

In today’s volatile economic landscape real estate is the single biggest and best investment most people can have. Whether you own your own home or want to own one someday, real estate effects everyone. So, knowing how the housing market works is critical to making real estate work for you.

Whether you need help with foreclosure, disclosure, mortgage, title, refinance, buying or selling, or any other issues he is here to help. His team of experts have been fixing people’s real estate problems and answering their questions for over 3 decades. Whatever your issue is, they’ve probably seen it and solved it before and they’re here to help.

Email: [email protected]
Phone: 661-253-3000