I have an applicant that advised me she recently filed Chapter 7 bankruptcy.

I've just found a website called mysmartmove, it gives more information on the prospective tenant's background, credit score, bankruptcies, and eviction history.  

I know it sucks, but take responsibility.Builder's have one of the highest bankruptcy rates in the country.

They want the property they're lending against to be "bankruptcy remote".

I'm still building my buyers list and am utilizing several places.

Now I always see many of you here in your discussions and notice practically all of you are very very particular about your tenants when you screen ...

There is a certain amount of risk at 75% LTV, but it is this leverage that can accelerate wealth accumulation - or bankruptcy should 1932 or 2008 reoccur.

@Matt WaggonerThis is by no means an all encompassing list, but gives the basics of what to look for in your DD on a 1st lien note:  Lookup unpaid TaxesCheck Bankruptcy statusContact HOA management Company (if any) - back HOA dues owed?

For example, somebody in a pre-foreclosure situation is likely getting collection letters for credit cards, mortgage notices, credit consolidation companies, bankruptcy attorneys, etc.

If you feel compelled to negotiate on the lien, the best starting position (depending on the type of lien), is the statement, "I'm thinking about filing bankruptcy and was wondering if it would be better to settle with you rather than filing."......lol.That said, might be better to catch another fish.

Here is the info on Montelongowww.johntreed.com/Reedgururating.html#ancho...and Carlton Sheetswww.johntreed.com/Reedgururating.html#ancho...Apparently Armando’s brother David Montelongo and his wife Melina filed Chapter 7 (total liquidation) bankruptcy in May 2013 claiming $31,000 in assets and debts of $600,000.