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Stop Forclosure/Need Refinance

Posted by Leigh on July 19, 2001 at 4:54 PM

We've been served papers to forclose. We dn't want to sell. This is an investment property that has 6 units. It is vacanat cause it needs work. It's valued at about 325k-375k in Brooklyn Ny. We owe on the 1st 160k and 15k taxes. Will cross collaterize if necessary. It has great income of we only had the money to get the work done. Also, what is a bailout loan/ Will chapter 13 stop the forclosure?


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