InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Codes 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 60+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] bankruptcy Posted by Walter on February 07, 2004 at 8:49 AM I have been talking to a homeowner whose house was foreclosed on and is scheduled for sheriff's sale next week. The homeowner had filed chapter 13 bankruptcy and the case is still active. However, the lender obtained relief from the bankrupcty stay and is proceeding to sell the property. I have a few questions: 1. If I get enter into an agreement of sale with homeowner to buy his house,what do I have to do to get the approval (if needed) of the bankruptcy court/trustee? 2. How likely is the bank (or its attorneys) to call off or postpone the sheriff's sale to allow me time to do whatever I need to do with the bankrupcty court and proceed to settlement? 3. What motivates the Bank to even consider postponing a sale to help the homeowner, after the homeowner has been thwarting the Bank by filing bankrupcty? Follow Ups: Postponements SeanW 11:32 AM, 02/07/04 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I have been talking to a homeowner whose house was foreclosed on and is scheduled for sheriff's sale next week. The homeowner had filed chapter 13 bankruptcy and the case is still active. However, the lender obtained relief from the bankrupcty stay and is proceeding to sell the property. : I have a few questions: : 1. If I get enter into an agreement of sale with homeowner to buy his house,what do I have to do to get the approval (if needed) of the bankruptcy court/trustee? : 2. How likely is the bank (or its attorneys) to call off or postpone the sheriff's sale to allow me time to do whatever I need to do with the bankrupcty court and proceed to settlement? : 3. What motivates the Bank to even consider postponing a sale to help the homeowner, after the homeowner has been thwarting the Bank by filing bankrupcty? 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

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-2004, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455