Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago,

User Stats

18
Posts
2
Votes
Bob Flynn
Lender
Pro Member
  • Lender
  • Albuquerque
2
Votes |
18
Posts

Nonperforming Second Note Purchase with BK

Bob Flynn
Lender
Pro Member
  • Lender
  • Albuquerque
Posted

I've made an indicative bid on a second mortgage that is nonperforming. The first appears to be performing.  The combined loan to value is probably about 80% so there is equity here.  I've reviewed the borrower's credit report as provided by the note seller and it appears that the buyer filed for Chapter 13 back in 2009. Does anyone have experience buying non performing seconds where there is an active bankruptcy? How do I determine if the home is included in the bankruptcy? Has anyone heard of a Chapter 13 taking this long? How do I get more details on the bankruptcy if not from the note seller?

  • Bob Flynn

Loading replies...