Comments on: Top Six Myths of Investing in Bankruptcy Real Estate http://reitips.com/investing-bankruptcy-real-estate/ Real Estate Investing, Undressed: Tips, ideas and news real estate investors can use. Sun, 14 Mar 2010 12:25:56 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Mark Klee 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.

]]> By: Mark Klee 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.

]]> By: Mark Klee 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.

]]> By: Mark Klee 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.

]]> By: Fresh start 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?

]]> By: salmedo http://reitips.com/investing-bankruptcy-real-estate/comment-page-1/#comment-26079 salmedo Tue, 23 Jun 2009 03:43:17 +0000 http://reitips.com/?p=1364#comment-26079 what do you do when the girlfriend of the seller says that she is his accountant and attempts to blow the option to purchase deal? Got a big fish but girlfriend has her reel in too! what do you do when the girlfriend of the seller says that she is his accountant and attempts to blow the option to purchase deal?

Got a big fish but girlfriend has her reel in too!

]]> By: Jared http://reitips.com/investing-bankruptcy-real-estate/comment-page-1/#comment-26066 Jared Mon, 22 Jun 2009 23:42:55 +0000 http://reitips.com/?p=1364#comment-26066 What would you say that the banks are generally looking for, percentage wise, as an offer when they are in bankruptcy to satisfy the balance. What would you say that the banks are generally looking for, percentage wise, as an offer when they are in bankruptcy to satisfy the balance.

]]> By: Jared http://reitips.com/investing-bankruptcy-real-estate/comment-page-1/#comment-26065 Jared Mon, 22 Jun 2009 23:35:01 +0000 http://reitips.com/?p=1364#comment-26065 I am a little unclear on who the "trustee" is.Is the court appointed officer a lawyer? I am a little unclear on who the “trustee” is.Is the court appointed officer a lawyer?

]]> By: Frank http://reitips.com/investing-bankruptcy-real-estate/comment-page-1/#comment-26063 Frank Mon, 22 Jun 2009 23:00:24 +0000 http://reitips.com/?p=1364#comment-26063 Question: Are you able to buy a home through the bank with terms and will they rewrite the loan? Thank you !! Question: Are you able to buy a home through the bank with terms and will they rewrite the loan? Thank you !!

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