In addition, with the socialists proposing universal health care, and President Bush enacting the Medicare drug benefit, the timetable for our country's bankruptcy is rapidly accelerating toward us.

Usually the bank doesn't pay anything until it actually sells.For months prior to foreclosure, if it was a bankruptcy then the HOA writes it off.

For if I had predicted at the beginning of 2008 we would experience freezing credit markets, bankruptcies and near bankruptcies of our largest of financial institutions, massive amounts of taxpayer monies used to "save" the financial system, the worst recession numbers since the Great Depression, unemployment at 7% and rising, mortgage defaults at unprecedented levels, "deleveraging" on a global basis -- and toss in oil going from $95 a barrel to $145 a barrel and back to $37 -- then you would have sought to admit me into a mental ward for treatment last January.

The decreased bond asset value destroys the banks liquidity and prevents it from issuing new loans.The suppliers of Heidi's bar, having granted her generous payment extensions and having invested in the securities are faced with writing off her debt and losing over 80% on her bonds.Her wine supplier claims bankruptcy, her beer supplier is taken over by a competitor, who immediately closes the local plant and lays off 50 workers.The bank and brokerage houses are saved by the Government following dramatic round-the-clock negotiations by leaders from both political parties.

After all, it's not a rare practie from those who know they are going to file for bankruptcy.

He will go into bankruptcy some time this year.

Have you tried saying homeowner will file bankruptcy if no agreement is made or maybe resubmitting a more in-depth hardship letter explaining homeowner is insolvent and it will be impossible to bring any funds to closing?

My offer price to the bank would be around 118K, depending on the BPOIf owners does file chap 7 before being 60 days behind, then that puts off a short sale until the owner comes out of bankruptcy doesn't it?

In one instance, the seller ended up in bankruptcy and the attorney's fees paid by the lender ended up on the fees inccured.

The ones who survived without filing bankruptcy are definitely antsy to generate some revenue and pay down their bridge loans.