Niches That Bring Your Riches: Purchasing Property From Estate Filing Bankruptcy

Petetion to File Bankruptcy

I am currently doing a series on my blog covering a little about each of the types of niches you could consider when investing in real estate.  Go here to go to the beginning of this series.

Purchasing property from a bankrupt estate can be a road to long-term gain. The process takes firm resolve and a large measure of patience.

However, today the number of bankruptcies is staggering. Therefore the pot is full of leads. Look at these numbers ….there was 1,367,006 bankruptcy filings in just the past 12 months and another 1,641,127 in pending status.

  • What is Chapter
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Niches That Bring you Riches Pre-Foreclosures

In my last article I talked about Pre-NOD.Today I am going to talk a bit about Pre-foreclosures. The Pre-foreclosure niche is the process leading up to the final day a property in pre-foreclosure is possessed by the bank. This is the time you will reach out to homeowners in order to find out if you can help them with their situation to avoid foreclosure You want to approach the homeowner heading toward foreclosure with a spirit of caring.Your job is to discover what they need and find out if you can help them avoid foreclosure. This is where the … Read the rest

Avoid Foreclosure – Option 14: CHAPTER 13 BANKRUPTCY

Option 14. CHAPTER 13 BANKRUPTCY

Bankruptcy

Q: WHAT DEBTS ARE NOT DISCHARGEABLE?
With some exceptions, the following debts remain even after bankruptcy:
· Child support & alimony
· Student loans that became due less than 7 years ago
· Federal and state income tax obligations less than 3 years old
· Debts for restitution from criminal convictions and drunk driving
· Debts the bankruptcy court decides where from intentional acts, fraud or wrongdoing (e.g., lying on your bank loan application).

Q: WHAT IS CHAPTER 11 BANKRUPTCY?

Chapter 11 is reorganization for businesses and individuals with debts too large for Chapter 13. … Read the rest