bankruptcy posting

kateowp · #1 Nov 10, 2006, 07:04 AM

hello,
there is a property that i have wanted to purchase for a while now that has just been listed on a bankruptcy posting. i believe that this means the bank is preparing to auction it off. is there any way to purchase the property before the bank puts it up for auction? someone told be that i can still purchase it from the owners- is this true?

RICKYLANDRY · Feb 24, 2008, 04:25 PM

Yes The Owner Is Properly In Foreclosure Status So They File BankrupTcy ALL BANKRUPTCY DOES IS PUT A BLANKET ON THE FORECLOSURE
AND BUYS THE OWNER OF THE PROPERTY SOME TIME AND PUTS AN EXTENSION ON THE FORECLOSURE
Just To By Them Some Time To Sell The Property Or Catch Up On Their Mortgage But Yes You Can Still Purchase The Property From The Owner
On A Sale Or Short Sale But If The Owner Sells It To You On A Short Sale
The Offer Has To Still Be Approved By The Lender Who Is The Lien Holder On The Property
BECAUSE AS A HOME OWNER YOU HAVE RIGHTS TO SAVE YOUR PROPERTY

1. LOAN MODIFICATION
2. SPECIAL FOR BARRONS
3. REPAYMENT PLAN
4. LOAN REINSTATEMENT
5. REFINANCE
6. SHORT SALE
7. RENT OR LEASE OUT YOUR HOME WITH DOWN PAYMENT



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