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Author Topic: Foreclosure and BK  (Read 6310 times)

Offline cfush

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  • Posts: 8
Foreclosure and BK
« on: April 20, 2003, 11:11:26 pm »
Hi everyone.  I received a call about a house discharged in Bankruptcy and is now in foreclosure.  Can the owner still Deed the house to me or is it now not his property?  
Thanks

Offline tedjr

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BK and foreclosure
« Reply #1 on: April 22, 2003, 06:40:35 pm »
Always have a pro do a title search or purchase a title policy. If the Judge discharged the BK case the house can be sold by the owner subject to the mortgage and other liens against the property or owner some of which may have been taken care of in the bk case. There are other ways to sell property in BK wher the trustee abandons the equity in a chapter 7 where they basically ask to court to give the property to the lien holder or let them foreclose because he would not get any money if it is sold as there is no equity. Hope I helped a little. Let me know if you have other questions

Thank you,

Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas  78737

512-301-9171 home
512-587-6177 mobile
Ted P. Stokely Jr

San Antonio, Texas

 




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