Short Sale while in bankruptcy?

Foreclosures, Short Sales, Tax Foreclosures
1

I have a homeowner who filed for bankruptcy. She owes about $320k total including late payments. House can conservatively sell for $380-400k (yes even in this market).

Will the bank consider doing a short sale? If I offer the bank $250-275k cash, would they take it?

It makes sense for the bank to take it, considering the homeowner will live freely for another year under bankruptcy, but has anyone actually seen this done before? I don’t wanna waste my time starting the short sale, if the bank won’t take it.

2

Not going to happen.

First there’s 80K equity in the house.

Second they’d have to get the trustee to release the mortgage from the bankruptcy agreement.