As far as KY is concerned I know that a property can go into bankruptcy and a judge can order a payment plan and to remove the interest.

It can't be discharged in a bankruptcy, so in a worst-case situation, it can have much longer-term affect on your credit and finances than other types of debt.

I wonder how this is going to turn out: http://www.ocregister.com/articles/thomas-409565-bankruptcy-gary.html

courts can drag it out in divorce, death or bankruptcy and keep property from being sold. you name it even title problems can pop up for a bank.

Hey everybody, I'v got a question about a pushing a last minute short sale through after the owner has declared bankruptcy and elected not to keep the house.

So raising capital for NPN's involves the actual purchase price and cost of due diligence but can also include raising money to cover the cost of legal document prep, foreclosure and bankruptcy defense.

If he files bankruptcy you could lose everything as the property becomes his asset and you become one more creditor.

Or commit to a program that forgives them.One option I do not recommend unless you have access to a lot of cash or someone you know is filing bankruptcy but has credit limits free.

Things like Land records, state dept. of Assessments and Taxation, register of wills or orphans court, Bankruptcy and court case searches, etc.

In the event the file bankruptcy or, in the present condition with a death of a borrower on one of my loans, that the worst that could happen is a return of principal.