Preforeclosure in NYC is under the Trustee's name

[Matthew Shay]

I am looking at a SFH that has lis pendens but the owner filed for bankruptcy and is doing jail time. The property in Manhattan was transferred from the owner to the irrevocable trust on behalf of the owner. There is a 3.6MM mortgage lien which was transferred to a credit union. The tustee filed a UCC-3 termination. Is that b/c the owner filed for bankruptcy so they are removing/delaying the debt to be paid untill further notice (usually 3 months unless they work out a payment plan according to my research) I did not see anywhere that the debt has been paid so I am assuming it still exists. At what point does this property become available? Do we have to wait for the owner to get out of jail? Can we approach the trustee and how would you go about approaching them?