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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Lemonade tastes great.. Posted by Ward-CA- on October 25, 2001 at 7:24 AM In Reply to: Buying notes when the trustor is already in BK... posted by Alfred CA on October 24, 2001 at 10:33 PM : Ward, : I may have an opportunity to purchase some 2nd TDs that have the 1st in foreclosure... the downside is that the trustors are already in bankruptcy. Does the BK aspect kill the possibility of my being able to profit from this situation or is there a way of making lemons into lemonade? Thanks for your help. =•=•=•=•=•=•=•=•=•=•=•=•= Alfred, if the trustor is in bankruptcy then she probably has little, if any, equity in the property. So go ahead only if you’re still in a Seller’s market, the property would grade E,G, or A and the first is small enough to generate enough overbid at 80% LTV to more than cash out the second. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : I may have an opportunity to purchase some 2nd TDs that have the 1st in foreclosure... the downside is that the trustors are already in bankruptcy. Does the BK aspect kill the possibility of my being able to profit from this situation or is there a way of making lemons into lemonade? Thanks for your help. : =•=•=•=•=•=•=•=•=•=•=•=•= : Alfred, if the trustor is in bankruptcy then she probably has little, if any, equity in the property. So go ahead only if you’re still in a Seller’s market, the property would grade E,G, or A and the first is small enough to generate enough overbid at 80% LTV to more than cash out the second. 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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