Posted by Rich-CA on October 28, 2007 at 22:12:53:
How is that going to stop foreclosure? BK is a way to clear debt, but you have to pay as much as possible and the lender already has first option on the property, so he will get paid. In fact, if you file BK, the lender may actually get the property faster since they don’t have to go through all the crap related to a foreclosure. The judge can just order the sale of the property and excess proceeds would go to your other creditors.
land trust - Posted by brian
Posted by brian on October 26, 2007 at 13:00:38:
can you put you put your rental house i have 5 in massachusets in a land trust if they are in forecslure thank you.
Why would you? - Posted by John Merchant
Posted by John Merchant on October 28, 2007 at 17:20:06:
You could deed to anybody you want, including the Flintstones or Osodden Bin Laden, but it wouldn’t stop or hinder the foreclosure at all…so why would you bother?
Re: Why would you? - Posted by brian
Posted by brian on October 28, 2007 at 17:27:37:
so waht options do i have regarding avoiding foreclosure. thank you what about chapter 13 bankruptcy