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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Help In Texas Posted by Steve H. on August 31, 2001 at 7:58 PM Need some advice. I am interested in a house that is part of a Chapter 7 bankruptcy proceeding. There is a first mortgage of $430,000, a second for $49,000 and a third for $143,000, plus the taxes are in arrears to the tune of $15,000. I expect a foreclosure sale in the next two months, but the creditors' meeting hasn't taken place yet. Also relevant is that the house was on the market for $660,000 for several months with only one bid - mine. The owner couldn't clear title with my bid, so declared bankruptcy. So, here are my questions. First, is there any way to get this house without the foreclosure? Second, if it goes to foreclosure, are the second or third lienholders likely to bid, and if so, how much. Third, assuming I can arrange to bid at auction, will the first lienholder bid more than their $430,000? And fourth, if I can't bid at auction, what would the first lienholder likely sell me the property for? Thanks much to anyone who has advice. Follow Ups: Re: Help In Texas Ward-CA- 8:54 PM, 08/31/01 (9) Re: Help In Texas Ben Wells 10:52 AM, 09/01/01 (0) Re: Help In Texas Steve H. 7:23 AM, 09/01/01 (7) Re: Another helping of help. Ward-CA- 8:50 AM, 09/01/01 (6) Re: Another helping of help. Steve H. 1:22 PM, 09/01/01 (5) Re: Now let's see... Ward-CA- 4:53 PM, 09/02/01 (4) Porucznik Borewiczmnb Porucznik Borewiczmnb 5:09 PM, 07/25/06 (0) Re: Now let's see... Steve H. 7:38 PM, 09/02/01 (2) Re: Fingers crossed... Ward-CA- 8:10 PM, 09/02/01 (1) Re: Fingers crossed... Steve H. 10:55 AM, 09/04/01 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Need some advice. I am interested in a house that is part of a Chapter 7 bankruptcy proceeding. There is a first mortgage of $430,000, a second for $49,000 and a third for $143,000, plus the taxes are in arrears to the tune of $15,000. I expect a foreclosure sale in the next two months, but the creditors' meeting hasn't taken place yet. Also relevant is that the house was on the market for $660,000 for several months with only one bid - mine. The owner couldn't clear title with my bid, so declared bankruptcy. : So, here are my questions. First, is there any way to get this house without the foreclosure? Second, if it goes to foreclosure, are the second or third lienholders likely to bid, and if so, how much. Third, assuming I can arrange to bid at auction, will the first lienholder bid more than their $430,000? And fourth, if I can't bid at auction, what would the first lienholder likely sell me the property for? : Thanks much to anyone who has advice. 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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