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?
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.
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.