THere may be other lien holders... you should find out about that.On the day of the Aucton, the county will start the bidding at their costs (Say $1,200), the 2ed bid (almost always) is the bank will bid that plus their lien (So $221,200)... the bank will then start praying that someone else bids..... often no one does.THEN the bank owns the house (which they never wanted to happen), so then the bank who works as fast as glaciers, get the paperwork ready so they own the house and can sell it (weeks to months, add time if someone is dead or bankrupt), once they have the paperwork they figure out how much money they put into this, they add some profit or negotiating room, bounce that off of an in-house (ie approximate) appraisal and generate a list price, they then give that package to their whipping boy the "Foreclosure agent", who posts it on MLS or gets a buyer and is expected to get only 1.5 or 2% of the deal as a commission.So you can find out what the bank will bid, if you can catch the property at the sheriff auction, which may be (way) less than the market price and the bank would be happy to let it go as long as they are paid...

There are a lot ( 5 ) properties in an area very sought after that have been boarded up by the city. The company that owns them has long since gone out of business in 2009 but the buildings still sit there in the name...

I am considering student loans because it allows me to just do it and not have to go through all the process of getting me preapproved and allow me to close faster with cash. it also allows me to save up all the rent for the time I am in school and invest it at higher rates of return then the loans and defer the loan payments. it also allows me to live in a better area. which I am not moving to until I can almost pay cash 40k would not be much compared to my overall savings and amount I would be paying. so I feel it would not be to risky specially seen the duplex would not be tied up as collateral for the student loans, I may not be able to bankrupt them but they can also not take away my property.

Basically, we have a possibly bankrupt borrower, a bankrupt lender, an agent who (reasonably) won't send us the PR without an offer, a bondsman's lien (4th), and several other substantial physical issues including possible misrepresentation of the lot.

I promise not to take it personally)They don't appear to pre-fund to their borrowers - which essentially means that a.) they don't have skin in the game, and b.) the lenders/investors don't begin accruing interest right awayThey don't appear set-up investors up with a 'Bankruptcy-Remote' legal structure which protects investors in the event that PeerStreet goes bankrupt.

Not sure how someone with tremendous net worth goes bankrupt just because assets aren't producing income.

My tenants are recently discharged bankrupts who with some family help have put together money as a down payment on a property.

Creative Finance is a key to people that are rookies.Pretend you are bankrupt with a 550 score.Get away from needing down payments money, get toward finding a way to -- Cash or Terms (give low cash offer)- Use Lease Options, Sub2, Installment Land Contracts, Wraps - AITDs, Private First Mortgages (free and clear) to get the solution without banks.- Use IRA Private Lenders and Joint Venture Partners.

When all was said and done... and having almost bankrupted our business... we spend over $110,000 on the renovation.Will's comment about haviing experience is dead on!

It's not bankruptable and only goes away if you pay it off, become permanently disabled or you die.