forecosure

[Sean Williamson]

would it be better to file BK before or after foreclosure? Have a house trying to buy in a short sale and the seller has come to me telling that she is going to file BK. any advise? Bank is taking a long time with the short sale.

[Tony Walker]

Originally posted by Sean Williamson:

that was not the question . i am just the investor wandering i if i should keep pursuing the short sale or just walk? I have already advised them to seek counselling

It would be tough to negotiate w/ the bank for the discount,
while the homeowner is in bk.

A great % of people can"t meet the requirements of the bk and are falling out of it after awhile though, that why it is a good idea to stay in touch with the homeowner, that way you can be there to pick up the SS deal again.

Also it seems that once the homeowner falls out , the bank will speed up the foreclosure process if there has already been a postponement of the sale date