A friend of a friend filed bankruptcy over 3 years ago. The house was forclosed and he moved out of the house. The bank that forclosed also filed bankruptcy and was taken over by another bank. Supposedly, THAT bank...

However, what happens if the SD IRA trustee goes bankrupt?

I am concerned about these prospective tenants, since in their history there is:-bankruptcy-walked away from a lease when they went bankrupt-they have NOT paid their April rent yet, and today is April 9th!

If people get greedy (lenders in 2005) the economy is meant to go into a depression or recession to correct the natural flow.Big companies that got too greedy are meant to fail and go bankrupt.

This is not meant to be legal advice of course but I would explore other options before deciding to go Bankrupt for $40,000 which by itself will incur legal costs.

I have to calculate, ". . .will this one bankrupt me?"

The developer was originally supposed to maintain a fund and do it, but he went bankrupt.

trigger".I could call GMAC...wait..they went bankrupt...I could call Ocwen.. and talk to my guy in India that answers the phone, and tell him I just did a wrap note on the house, and the payments will still hit the account each month on the 1st.

While I appreciate your "caring", simply put, that caring will get you eaten alive in this business....you can be compassionate and caring without going bankrupt.

I'm not sure why will you need money available right away for every monthly rent you can possibly have in your bank account, you should have reserves anyways unless you are going bankrupt, but I get it.