Our bankruptcy was finalized over 10 years ago, so should no longer be on our credit history.

As a creditor's representative in bankruptcy I bumped into a stripping tactic, it didn't fair well for the debtor.

A bankruptcy usually extinguishes unsecured promissory notes, but it can rarely affect a secured note tied into a mortgage.

People who declare bankruptcy often see it coming and try to hide assets ahead of time from the court.

.#1 - paid 75K, with 1,900 of mthly gross rents (tenants in place), in good condition, and tenants paying all utilities except water/sewer#2 - paid 77.5K, with 2,500 of mthly potential gross (bankruptcy sale, 2 units vacant at the moment), also in good condition, w/ landlord paying for common boiler heat, as well as water/sewer.

And, the cost of the foreclosure gets tacked onto what's owed, and that can be over $10K.You may be able to get in like with other creditors to get paid out of the bankruptcy proceedings.

If you had a tenant that was upfront about their situation, eviction in 1997and recent bankruptcy that was discharged.Would you still consider leasing to him?

Being that I have had great tenants who were in the bankruptcy camp, I am having a hard time knowing when to take a chance and when not to.Pros: applicant has steady military income, 4x rent amount, has resided in 2 prior residences for 3 years at each in different states, prior landlords state no notices ever served, always paid on time, would rent to them again.

Also, how do you protect yourself if the seller decides to file for bankruptcy down the line?

We know that no matter what we do you will not pay us anything because we know of your bankruptcy issues.