Advise with title issues

[Randy Gross]

i found a great deal and i don't want to lose it. upon having a title search done here are the issues:

2008 bank files for foreclose

2011 owner later files for bk (has 2 homes only included 1 home and not home i want to buy)

2013 bank foreclosed

home is in Florida

i only talked to 1 title insurance. and they will not insure.

can this be fixed on my end after i close for say 5k or less

i'm told bk case needs to be amended then foreclosure case will need to be amended or re-foreclosed.

advise please. if i can close n a few years down the road fix the issue i will if i can do it for 5k or under or should i just walk away?

thanks

[Michaela G.]

Some years ago I was working on some properties that had been owned by a mortgage company that went through bankruptcy. The properties weren't dealt with in the bankruptcy.

I contacted the bankruptcy trustee by email and got an email back, that he was not interested in reopening the file and wouldn't do anything about the properties.

The title company used that email. I ended up buying the properties from 2 of the 3 original officers of the defunct mortgage company.

So, I would approach the bankruptcy trustee and ask. Maybe at the time of the bankruptcy the value was less than the mortgage and thus they knew about it but didn't want to deal with it. I would approach him/her by email and see what their response is.

If they tell you that they're not interested, then contact your title company or find another more creative title company and ask if that will be acceptable to them.

Then utilize it as your negotiation tool with the bank, that there're some questions in regards to the bankruptcy (but don't tell them that you've got it completely figured out)