Your client is being sued. You have asked the clients lawyerabout the possibilit

Your client is being sued. You have asked the clients lawyerabout the possibility of losing the lawsuit. The client meanwhilehas asked you to describe what would happen to his or her financialstatements. The client has also informed you that by losing thelawsuit he or she anticipates losing the mortgage and has startedtalking to a mortgage lender. The client wants to know if part ofthe debt is forgiven or if the mortgage is rewritten or if themortgage will be rewritten if he or she files Chapter 11.