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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Jr Bene Posted by Derek on September 25, 2003 at 7:40 AM I am in Arizona. I have an agreement to purchase a 2nd from the lender. I am very confident the home owner will file a bankruptcy to either stall the sale or keep the home. Either way it works for me. I will purchase a 60k note for 12k, and there will be 90k equity once I do this. My question is, can the 2nd mortgage sell me the deed of trust and promissory note if the borrower is in some kind of bankruptcy? I know that I may not be able to do anything with the note until they are out of the bk, but is it legal to assign the debt to me while the borrower is in bk? Thanks, Derek Follow Ups: Negotiating for a junior note... Ward-CA- 9:08 AM, 09/25/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I am in Arizona. I have an agreement to purchase a 2nd from the lender. I am very confident the home owner will file a bankruptcy to either stall the sale or keep the home. Either way it works for me. I will purchase a 60k note for 12k, and there will be 90k equity once I do this. : My question is, can the 2nd mortgage sell me the deed of trust and promissory note if the borrower is in some kind of bankruptcy? I know that I may not be able to do anything with the note until they are out of the bk, but is it legal to assign the debt to me while the borrower is in bk? : Thanks, : Derek 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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