Do not give more advice than what is needed.

As you all know, bankruptcy laws have changed in quite a few states over the last couple of years (and are continuing to change as we speak). Maybe you have heard about these new laws and how they may or may not affect you. You may have been warned by your attorneys in regards to asking or answering questions about the new bankruptcy laws with your potential sellers. The question you need to ask yourself is should you be giving them advice in the first place?

Absolutely not!

Bankruptcy is not a minimal issue when it comes to the intricacies of the law. There are a variety of state and federal laws, and the state laws can vary depending upon your location. Will this be different for the seller? It could be. Should this be different for you? The answer to that is no. It should be no different than any other set of rules you will need to learn for your corresponding state. You should never give out any kind of advice regarding foreclosure and bankruptcy. It may even be illegal in some states. If they want you to sign a disclosure, you should not be worried about that. But as for other bankruptcy questions, leave that to the attorney. Remember, you are a foreclosure consultant and you could actually get in legal trouble for anything more than that.

Don’t lose sight of what you are doing. Stay focused. You are there to get the deed and buy the house. Nothing more, nothing less. If you find it too difficult to become uninvolved, then you should remove yourself from the situation. It is best to not be in comprising situations, and though you may tend to be of the helping kind, wanting to assist those who need your help, it is better for all involved for you to remain quiet about the situation. Again, if that is not possible, then you should exit the situation as soon as possible. Of course you are looking at the best interest of the seller, and your goal would never be to hurt anyone. But in the end, the person you could end up hurting is yourself.