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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Yes, you can reinstate without any problem. Posted by Ward-CA- on February 22, 2002 at 4:14 PM In Reply to: Can I reinstate Loan If they've File BankRuptcy posted by mark FL on February 22, 2002 at 9:06 AM : I've got a decent little property where the owners will give it to me if I reinstate both the first and second, which are both foreclosing. It's an 85k house...payoff total on both loans is about 70k....but they are building 350k houses all around it and its a lot and a half to boot. : Yesterday while talking to them and trying to work it out, the female half of the couple said she had just filed for bankruptcy, which sort of threw me off balance. Can I still make this deal work, and what do I need to do at this point. Thanks ========== Mark, now that the couple is in bankruptcy, any further paperwork that they need to sign will have to be done under the approval of the bankruptcy court. Most of the time the Court will go along with what the petitioners want and rubberstamp their paperwork. So don't fear, the deal will still stay on balance but at a slower pace. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I've got a decent little property where the owners will give it to me if I reinstate both the first and second, which are both foreclosing. It's an 85k house...payoff total on both loans is about 70k....but they are building 350k houses all around it and its a lot and a half to boot. : : Yesterday while talking to them and trying to work it out, the female half of the couple said she had just filed for bankruptcy, which sort of threw me off balance. Can I still make this deal work, and what do I need to do at this point. Thanks : ========== : Mark, now that the couple is in bankruptcy, any further paperwork that they need to sign will have to be done under the approval of the bankruptcy court. Most of the time the Court will go along with what the petitioners want and rubberstamp their paperwork. : So don't fear, the deal will still stay on balance but at a slower pace. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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