Hi Reiclub family,
I was wondering anyone use PACER to get bankruptcy leads, and if so can you explain how to find the ones for the lenders. I know “order granting motion for relief from stay” in a phrase that you should be looking for. Right?
Thanks in advance!
Title company should be able to assist you with bankruptcy leads through PACER. Good luck. Once the first lein holder gets that relief of stay they will proceed with the foreclosure. The problem arises when the second lien holder (if applicable) just sits and waits it out. They have no reason to file a motion for relief of stay as if it goes to sale they will get nothing. They are not apt to throw good money at bad, or in this case at nothing. I just did a deal where fortunately, the BK was dishcharged before the sale date and the second would finally agree to release their lien for $1000. Had the BK not discharged the second would have just sat there and the deal would have fallen apart for their unwillingness to budge with the BK.
thanks