Posted by John Merchant on March 25, 2008 at 10:49:09:
Trustee is generally very responsive as he/she’s in position of trying to raise cash to pay all creditors so I’d say call him/her and talk over what you’d like to do.
You may well find an immediate ally and friend who then might call you on similar deals with similar properties that you might help with.
ch 13 bankruptcy - Posted by brian
Posted by brian on February 27, 2008 at 08:21:09:
can i sell or buy a house while i am in ch 13 also can i make a note from a house in ch 13 thank you or can i get a new loan a exit ch 13 thank you
Not really yours if in CH 13 - Posted by John Merchant
Posted by John Merchant on February 27, 2008 at 10:35:54:
While you’re IN Ch 13, YOU don’t actually own the house.
In return for the safety and protection of the Ch 13, you have granted all rights, at least temporarily, to the Ch 13 “estate”, and the designated Ch 13 Trustee now, more or less, controls that property for the BK estate.
But, since the T’ee won’t have a real emotional interest in the property as you do, it’s certainly to your benefit to try to find a buyer for the house for best price and terms possible… and then see if you can persuade the T’ee to sell it just as you would.
Depends - Posted by Rich-CA
Posted by Rich-CA on February 27, 2008 at 10:26:29:
Depends on how long after the BK was discharged as it normally kills your credit for 7 years. However, my brother in law got a loan for an investment property 3 years after the BK was discharged. So it depends on how far you are into the process.
Re: Not really yours if in CH 13 - Posted by Todd
Posted by Todd on February 29, 2008 at 03:42:54:
So, Mr. Merchant, if I am interested in marketing to people in Ch 13, they will have to get permission from the trustee to approve the sale?