There were stronger voices for communities that were facing a bankruptcy of their auto industry.

I am a newer investor and just bought four in the last two years alone...Own between 5 and 10 residential properties, each with financing attached:Purchase : 25% down payment is required for 1-unit; 30 percent is required for 2-4 unitsRefinance : 30% equity is required for all property types (1-, 2-, 3-, or 4-unit)Minimum credit score must be 720There must not be any mortgage lates within the prior 12 months on any mortgageThere must be no bankruptcies or foreclosures in the prior 7 yearsThere must be 2 years of tax returns which rental income from all rental propertiesThere must be 6 months of PITI reserves on each of the financed properties

Bankruptcy purchase What made you interested in investing in this type of deal?

What is the best software out that compiles pre foreclosures, foreclosures, tax delinquent, bankruptcy, REO's ect.??

Paid $4000.00 to file for bankruptcy (He had a business and got ill, went down hill since.4.

If the subsequent lienholder is aware that you are about to get the property, he may pay off your lien and wait until he can foreclose.When you foreclose, if you notify the mortgageholder (or anyone with an interest in the property) and they do not redeem the lien (pay the tax), you get Treasurer's deed free & clear.What I don't get is someone I know in AZ doesn't foreclose the mortgage so I assume he wants to assume the mortgage.Could also be the property is in bankruptcy.

We tell them the homeowner is going to file bankruptcy, and most times the answer is "go ahead" and then if that happens I *wait* more.The lender nevers sees the contractor info.

One wrong move with someone else's money could mean bankruptcy.

There's significant risk, since a bankruptcy by Dollar General (think about Builder's Square and Circuit City) really, really kills you.

Let the seeler know it's this attorney guy screwing up his deal, that if it is in default it could go to foreclosure, an attorney will take him to bankruptcy, prolong the agony and in the end, credit will be worse, the house will be gone and the attorney will be richer!