http://reitips.com/investing-bankruptcy-real-estate/ Real Estate Investing, Undressed: Tips, ideas and news real estate investors can use. Wed, 08 Sep 2010 13:01:00 +0000 hourly 1 http://wordpress.org/?v=abc http://reitips.com/investing-bankruptcy-real-estate/comment-page-1/#comment-26144 Mark Klee Thu, 25 Jun 2009 13:29:07 +0000 http://reitips.com/?p=1364#comment-26144 There is no set amount. It's handled just like any short sale (assuming there is more owed on the house than it's worth), the bank will run their numbers to determine what amount makes sense for them to accept. However, it IS more expensive for them to hold a house in BK than a typical short-sale. There is no set amount. It’s handled just like any short sale (assuming there is more owed on the house than it’s worth), the bank will run their numbers to determine what amount makes sense for them to accept. However, it IS more expensive for them to hold a house in BK than a typical short-sale.

]]> http://reitips.com/investing-bankruptcy-real-estate/comment-page-1/#comment-149352 Mark Klee Thu, 25 Jun 2009 13:29:00 +0000 http://reitips.com/?p=1364#comment-149352 There is no set amount. It's handled just like any short sale (assuming there is more owed on the house than it's worth), the bank will run their numbers to determine what amount makes sense for them to accept. However, it IS more expensive for them to hold a house in BK than a typical short-sale. There is no set amount. It’s handled just like any short sale (assuming there is more owed on the house than it’s worth), the bank will run their numbers to determine what amount makes sense for them to accept. However, it IS more expensive for them to hold a house in BK than a typical short-sale.

]]> http://reitips.com/investing-bankruptcy-real-estate/comment-page-1/#comment-26143 Mark Klee Thu, 25 Jun 2009 13:26:40 +0000 http://reitips.com/?p=1364#comment-26143 The trustee is a court appointed officer of the court that is assigned to each case by the BK court. They are "typically" lawyers that have their own separate practices and act as trustees on a part-time basis. The trustee is a court appointed officer of the court that is assigned to each case by the BK court. They are “typically” lawyers that have their own separate practices and act as trustees on a part-time basis.

]]> http://reitips.com/investing-bankruptcy-real-estate/comment-page-1/#comment-149351 Mark Klee Thu, 25 Jun 2009 13:26:00 +0000 http://reitips.com/?p=1364#comment-149351 The trustee is a court appointed officer of the court that is assigned to each case by the BK court. They are "typically" lawyers that have their own separate practices and act as trustees on a part-time basis. The trustee is a court appointed officer of the court that is assigned to each case by the BK court. They are “typically” lawyers that have their own separate practices and act as trustees on a part-time basis.

]]> http://reitips.com/investing-bankruptcy-real-estate/comment-page-1/#comment-26142 Mark Klee Thu, 25 Jun 2009 13:24:46 +0000 http://reitips.com/?p=1364#comment-26142 Absolutely .. you are able to buy a home using terms. I don't know what mean by "rewrite" the loan, but you will need to get financing just like any other property. Absolutely .. you are able to buy a home using terms. I don’t know what mean by “rewrite” the loan, but you will need to get financing just like any other property.

]]> http://reitips.com/investing-bankruptcy-real-estate/comment-page-1/#comment-149350 Mark Klee Thu, 25 Jun 2009 13:24:00 +0000 http://reitips.com/?p=1364#comment-149350 Absolutely .. you are able to buy a home using terms. I don't know what mean by "rewrite" the loan, but you will need to get financing just like any other property. Absolutely .. you are able to buy a home using terms. I don’t know what mean by “rewrite” the loan, but you will need to get financing just like any other property.

]]> http://reitips.com/investing-bankruptcy-real-estate/comment-page-1/#comment-26141 Mark Klee Thu, 25 Jun 2009 13:23:04 +0000 http://reitips.com/?p=1364#comment-26141 Not really sure what you mean by "inside scoop" but it is VERY RARE that a property is sold during a CH13 BK. As a matter of fact, over 80% of the people in CH13 eventually get "kicked out" and loose the protection of the BK court. This is where the REAL opportunity is for us as real estate investors. Not really sure what you mean by “inside scoop” but it is VERY RARE that a property is sold during a CH13 BK. As a matter of fact, over 80% of the people in CH13 eventually get “kicked out” and loose the protection of the BK court. This is where the REAL opportunity is for us as real estate investors.

]]> http://reitips.com/investing-bankruptcy-real-estate/comment-page-1/#comment-149349 Mark Klee Thu, 25 Jun 2009 13:23:00 +0000 http://reitips.com/?p=1364#comment-149349 Not really sure what you mean by "inside scoop" but it is VERY RARE that a property is sold during a CH13 BK. As a matter of fact, over 80% of the people in CH13 eventually get "kicked out" and loose the protection of the BK court. This is where the REAL opportunity is for us as real estate investors. Not really sure what you mean by “inside scoop” but it is VERY RARE that a property is sold during a CH13 BK. As a matter of fact, over 80% of the people in CH13 eventually get “kicked out” and loose the protection of the BK court. This is where the REAL opportunity is for us as real estate investors.

]]> http://reitips.com/investing-bankruptcy-real-estate/comment-page-1/#comment-26095 Fresh start Tue, 23 Jun 2009 18:14:50 +0000 http://reitips.com/?p=1364#comment-26095 I have sat in on a number of bankruptices in the Eastern part of the counry, downtown Norfolk, VA. Almost all Chapter 13 has property attatched. And I also noticed that the court appointed Trustee has an inside man that gets the inside SCOOP on these must be sold properties. Does the program you support have a much better INSIDE SCOOP for the newbies? I have sat in on a number of bankruptices in the Eastern part of the counry, downtown Norfolk, VA. Almost all Chapter 13 has property attatched. And I also noticed that the court appointed Trustee has an inside man that gets the inside SCOOP on these must be sold properties. Does the program you support have a much better INSIDE SCOOP for the newbies?

]]> http://reitips.com/investing-bankruptcy-real-estate/comment-page-1/#comment-149348 Fresh start Tue, 23 Jun 2009 18:14:00 +0000 http://reitips.com/?p=1364#comment-149348 I have sat in on a number of bankruptices in the Eastern part of the counry, downtown Norfolk, VA. Almost all Chapter 13 has property attatched. And I also noticed that the court appointed Trustee has an inside man that gets the inside SCOOP on these must be sold properties. Does the program you support have a much better INSIDE SCOOP for the newbies? I have sat in on a number of bankruptices in the Eastern part of the counry, downtown Norfolk, VA. Almost all Chapter 13 has property attatched. And I also noticed that the court appointed Trustee has an inside man that gets the inside SCOOP on these must be sold properties. Does the program you support have a much better INSIDE SCOOP for the newbies?

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