In a reorganization the court would need to approve the sale.

The current owner gets the surplus once all the liens are paid off, so they’re better off letting it go to foreclosure than sell to the typical low ball “foreclosure chaser”.Not to mention they will likely file BK the day before and take a stab at reorganizing their debt.   

That will create a judicial proceeding where the judge can restructure and reorganize the debt effectively accomplishing the same thing as above.

This is the same structure I am setting up for myself as I reorganize my business affairs following some of John Hyre's advice about separating holdings and management for protection and tax benefits. 

I'm trying to find the best way to (re)organize my holdings and set up the correct structure for moving forward.I have two properties in 2 LLC's right now with partners (they're aware and ok with title switch. so is the bank), and another LLC as my investment company.

And many of the builders who were experienced had to reorganize and banks took loss's so they were not able to go to those money sources.. and HML did not get into new construction until about 3 to 4 years ago..

Some restaurants were able to strike a deal with their landlord on rent abatement, but others were left scrambling to find the money to pay — radically cutting staff and food costs in a desperate effort to reorganize costs.

My wife and I are enjoying Hollywood without the terror of a huge monthly payment, while I re-organize my life and transition all of my work from Asia back into the States again.

it is my view that meetups that sound primary social such as have social, brew, network, etc in their name have a significantly larger percent of newbie or want to be investors than meetups that have more specific names (private lending masters (run by my friend Janice), in n out of notes, etc) or those from larger local RE organizations (SDREI, NSDREI, SDCIA, etc).

They issued way too many policies without inspections and have bee reorganizing from that.