Filing Ch 13 will stop the sale (in most states) and give the homeowner the opportunity to reorganize their debt, as well as give you more time to put a deal together.

The town has not bitten the dust, it is doing what is necessary to reorganize so it can continue operating.

Reorganized my wish board.

There are several kinds of bankruptcy, there is a reorganization where they try to stay in business.

Now due to circumstances beyond their control, things have been through out of whack and they need someone to get everything reorganized for them.

Ok, here it is My wife’s Dream home, 6bd, killer kitchen, fantastic neighborhood, and its and REO.MLS listed for 514kZillo estimates 415k-495k Pre-approved for 400k On the market for 26days, (only 1 low offer according to realtor unknown price)I researched realty trac and found bank that owns Fremont I&L, a mess, Fremont bought out by another pushed servicing to Fremont reorganizing and Litton but HSBC bank listed as owner on tax docs with the address of Litton in Houston???

Sometimes I think about cubicles, performance reviews, efficiency studies, reorganizations, downsizing, rightsizing, outsourcing, customer surveys, politics, employee surveys, budget reductions, 2% pay increases, mission statements, vision statements, presentations, progress reports, staff meeting, commuting, etc.

Not many know the difference between a Chapter 7 and a Chapter 13 reorganization. 

Essentially, the debtor business reorganizes and operates the business as a fiduciary for the benefit of creditors, and there is usually a committee of creditors which must vote to approve the plan. 

The other day I went to look at a house (which was a total loser albeit), but had a great time just walking through and seeing all the ways it could be fixed and reorganized to maximize dollars.