I may have a perfect idea. Please try to shoot it down.

[Michael Johnson]

I have a property that we are about to put under contract (wholesale) the homeowner is in preforeclosure but somehow still apparently wealthy. and doesnt care about the house.

Assuming that the homeowner would just go along with it....

Could we by the property subject to, and then have her bankruptcy clear out the rest of the mortgage?

We would have legal claim to the property, but the debt is in her name, which gets cleared @ bankruptcy...

Of course why would she do it? But IF she did.. would we keep that house free and clear?