When researching it I discovered that it has a foreclosure notice placed on it last June, but the bank has not acted on the notice.I tracked down the owner who had claimed bankruptcy, has no other additional debts, liens against the property, and is moving back to Mexico within 2 months.

This deal is a bankruptcy so I guess the trustee is not aware of the rules or he just doesn't care.

NPNs carry a much higher risk of having confrontational issues with the borrower or situations where the borrower end up in some legal matter that exposes your asset to examination, like bankruptcy.

He's very glad he didn't as that person has since filed bankruptcy.

Student debt cannot be wiped out in a bankruptcy and in fact is one of the number one items lawmakers are saying could push us back into a recession as the loan amounts are staggering.The student debt you rack up had to be weighed against job demand getting out and what the starting pay and chance for advancement is.

I located a hotel that had been remodeled back in 2010ish and was still sitting vacant, Come to find out the owners have filed for bankruptcy and the property is about to be foreclosed on by the city itself.

In addition, you may have bankruptcy risk which would stay any of your collection attempts.

If your net worth is 200k and they sue you for 1.5M there is a high chance the person being sued will file bankruptcy in which case the court will liquidate assets and pay out the net worth.

We got out clean (no bankruptcy), but lost all of our savings, etc. trying to keep our good credit good, which we did.

I remember reading a panicked post on BP from a woman who bought a property at an auction, then found out she was second tier and the owner was going into bankruptcy, or something like that.