METRO detroit has rallied harder than almost anywhere in the country since the crash.The bankruptcy is a fantastic thing for the city.

I've ran across some leads that have a tax filing of bankruptcy.

You'll file for bankruptcy and lose your car, your home and no credit score which means good look trying to rent an apartment and your insurance premiums go up.

Some years ago I was working on some properties that had been owned by a mortgage company that went through bankruptcy.

Frankly, that website has red flags to me, some good information, but I also look to the meat of the agendas, techniques and methods and the equity stripping is in far left field, filing false liens, with entities not at arm's length can be trouble, it is not a tool to employ, hit bankruptcy court and you won't be looking at just state laws or assumptions or local politics from the bench.

Heres the basics:SHORTSALEARV: 155-160kBPO target: 140k(I will be there to do everything I can to influence price)Target purchase price:112k. 1st of 220k (WF) and 2nd of 60k (handled in bankruptcy court and home owner currently paying it down)I am pleased to say a family friend has chosen me to handle their short sale.

Paying debt with earnings a re-consolidating other assets or liquidating assets, or 3. borrow to replace or reduce debt.THE SHELL GAMEThe shell game is when someone basically borrows from Peter to pay Paul, it can be done to an extent but it really skirts on fraud, ponzi schemes and if Peter stops funding Paul is out in the cold.If you have a company that has insufficient capital and you're simply moving money around and need to borrow to cover debt, you could be close to bankruptcy by definition with respect to your cash flow.

Did you know bankruptcy will not even wipe out student loans??

Divorce, suits as to the partition of property, bankruptcy and contracts can force sales.That's enough.... :)

Originally posted by @Joe Gore:Duncan, When I am hired to check out a landlord, I get the owner of the property no matter what they are hiding behind, insurance info, liens, who the property is financed with, DOB, SSN, owners address, drivers license info, credit card info, how many loans in the owner's name or business name and date open and monthly payments, type of auto in owner's names, bankruptcy.