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

BUT, it all can still lead to major cost and time problems if the borrower files for bankruptcy protection.

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.

You could go the vulture route and follow up on bankruptcies, while many are already in trouble some don't find out they are upside down until they file.Contact non-profit financial counselors, people contact them for help, leave cards there and make friends.I knew a vulture Realtor that followed court convictions, some are homeowners get sent up the river to the big house, the bread winner is gone and they are forced to sell.

Because it's not a civil action it's a non-judicial issue through foreclosure unless the buyer takes the issue to court.However, those that did make it to court in my case were all issues arising out of bankruptcy, probably less than 20 as I recall.

Can also buy list of divorce leads, bankruptcy.

I am a bankruptcy attorney and I deal with failure everyday.

If a bankruptcy attorney (trustee) refers one of his/her clients to me because I can buy their house quickly and then I close on the house, is it legal for me to pay the referring attorney a referral fee for the lead?

With most hard money loans, be prepared to bring in between 10% to as high as 50% on some real estate.4.What if I have a bankruptcy, short sale, or a foreclosure on my credit?