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Selling to an investor vs. filing bankruptcy

Posted by Jason on June 13, 2002 at 6:07 AM

I just started buying properties from owners in preforeclosure in Texas. I did my first deal a month ago. However, I am constantly running into owners whose solution is to file bankruptcy with the belief that they can keep their home. I am not quite sure how to respond to them, although I'm pretty sure that's not the better alternative. What are the benefits of selling below market to an investor like myself versus filing bankruptcy? Can somoene provide a list of pros and cons of each from the owner's point of view.

Thanks,

Jason


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