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Author Topic: ss and BK  (Read 1034 times)

Offline mopac

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    • MOSENBUYSHOMES.COM
ss and BK
« on: March 06, 2008, 11:26:03 am »
is it worth tying to do a short sale for a property that is in either ch-7 or ch-13..  bk

if so. what are the biggest obstacles to be aware of?
Don't Give Up,Don't Ever Give Up.
(Jimmy V)

Offline cruzvarian

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Re: ss and BK
« Reply #1 on: March 06, 2008, 03:40:57 pm »
I was about to post a question similar to this.  I have one as well but the Mortgage is not included in the BK.  In fact all the homeowner has done thus far is give a retainer to the lawyer.  I'm guessing this means they are not essentially in BK yet. 


I would say to anwer your question mopac,  no they are not worth trying.  Once in BK there ends up being a tug of war between the lender and the BK court/ lawyer. 

Offline txshortsaleking

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Re: ss and BK
« Reply #2 on: March 07, 2008, 09:06:34 am »
personally I primarily work with borrowers in a bk whose properties I short sale in many cases...

I have found that the banks are very motivated on BK properties. if they just filed you just have to get approval from the judge to sale.

 




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