Posted by John Merchant on January 27, 2010 at 08:39:36:
If I were the note holder I’d sure like to hear from you as to what problems you’re having and I’d be inclined to work with you to adjust your debt and its scheduled payments so its workable for both of us.
Land Contract/ Bankruptcy - Posted by Sean McConaha
Posted by Sean McConaha on January 19, 2010 at 10:32:23:
I am currently in a two year land contract in Ohio that ends in October 2010. Like many others I have had serious finacial issues. I am filing for bankruptcy and will certainly not be able to procure a loan. What do I do? I have not missed a payment, but I feel that agreed amount per month is too much to handle. What are my rights?
I would like to handle this with dignity and not screw over the seller. please advise.
Thanks
Re: Land Contract/ Bankruptcy - Posted by Bill H
Posted by Bill H on January 27, 2010 at 09:39:20:
John is absoluely correct…COMMUNICATE…with the lender/noteholder/mortgagee/etc.
Let them know what is happening and what you can do.
DO NOT leave them in the DARK and expect miracles. TALK to them NOW…it works.
Good Luck,
Bill H