Foreclosures/Short Sales/Bankruptcies each have a waiting period for Conventional Loans/FHA/VA/USDA loans but portfolio loans can be a solution to help someone day one after a major issue occurred.

Appeal and bankruptcy is a legitimate threat that can drag out the process for months.

It will indicate their credit score, how many delinquent accounts, charge offs, and bankruptcy`s. 

Now all of these properties were distressed and either purchased as a foreclosure, bankruptcy, or medicaid sales.

Hi Nick, I hope everything works out with the bankruptcy. 

I however googled the owner and learned a lot about them such as how many mortgages they have, how many deeds are in their name and that they filed bankruptcy in 2015 which is all ammo in negotiations.I could not reach the first owner so I reached out to the second.

@Tiffanie Vendryes  You may have enough reasons already but I also see 1) the current owner file for bankruptcy or 2) the owner filed some kind of legal challenge to the foreclosure such as the lender messed up filing their ownership interest in the property.

A bankruptcy last a long time and many credit apps will ask if you have EVER filed.

They have not bought with this type of income because of bankruptcy back in 2008 (the crisis ) and they do not know how to manage their credit.

I filed for bankruptcy and it was discharged in March 2015.