April your friend is buying time.They will have no motivation to sell to anyone after the BK filing.Until the filing their back was against the wall.Now they can breathe a sigh of collective relief for a few months at least.When you file typically most do a chapter 13.You have go through a meeting of the creditors along with a conformation hearing down the road where the plan is approved.Lower payments do not really happen in a 13.A chapter 13 usually lasts 3 to 5 years on the repayment plan.The trustee payments and attorney payments are front loaded before the creditors so they get paid first as they know most cases will get dismissed.With reduced payments on the mortgage you are talking about a forbearance plan with the banks loss mitigation department or a permanent loan mod.If someone has crap credit already they might could care less and file BK.They can get many,many months of free mortgage this way.If you don't make the regular payment the lender will file for a "relief of automatic stay" and if you don't make the BK payment the trustee will file a motion to dismiss.Since you are creating an additional payment for the back payments owed on the mortgage plus any other creditors included you are not doing anything.If your friend owes a ton of other debt as well a chapter 7 might be best.In a chapter 13 your credit is frozen in the crapper for the term of the plan 3 to 5 years.In a chapter 7 you are immediately liquidated and can build credit back much faster.Attorneys want that money.Many in my area will file chapter 13 to get started for 75 bucks!

The seller can aslo be hurt should the IRS decide to freeze your accounts.Do yourselves a favor and get on a payment plan with the IRS at the very least.

If you're really into financial analysis, you can ask your HOA for their financial records and if you can build a strong enough case that they should be lowered, submit a motion to the board or however else your HOA bylaws state.

I will provide all the details after the closing, but the numbers are looking favor nice.

Some people are still afraid to buy despite favorable prices/interest.5.

Be very nice but explain to them this is not a favor but rather a requirement to close from the lender.

Louisville has several investor-friendly banks, (I like First Capital), so that is favorable.In your favor: three years of successful landlording experience, excellent credit, spouse with steady wage income.

It may feel a little crazy while you are in it, but planes are built to withstand those motions.

(even if the statute says "reasonable attorneys fees") My understanding is that if the attorney that is charging them, feels they are reasonable, then he can charge them.In my situation, I have come across this 1 time too many with this law firm, it is so outrageous on what they charge in comparison for services that were done. ie, NOTHING but answering a motion on behalf of the HOA.

While it's true that anyone can sue anybody and everybody for anything, many lawsuits are settled on terms favorable to the defendant merely because of the entity holding title.The headlines are made when a huge judgement is entered or when a judge or jury elect to throw out corporate law and "punish" a particular individual by piercing the entity veil.