Читать книгу Foreclosure Investing For Dummies - Ralph R. Roberts - Страница 47

Filing for bankruptcy sounds like a permanent solution to a significant financial predicament like foreclosure, but it’s not the ideal solution. It destroys the homeowner’s credit rating for seven years or so and doesn’t exactly wipe all debt off the books. Bankruptcy simply relieves some of the debt burden and provides homeowners some extra time to restructure their remaining debt.

Bankruptcy is one more option for distressed homeowners, however, and it’s certainly something you should know about as a foreclosure investor. By filing for bankruptcy at least a couple of days before the auction date, a homeowner can delay the foreclosure process and leave a property that you’ve already purchased in limbo — at least until the foreclosure trustee and the courts sort out all the legal issues.

Bankruptcy is another opportunity for real estate investors. As the trustee or courts decide how to liquidate the property, you may be able to step in and work with the lawyers and trustee to purchase the property and make their lives a little easier. Chapter 14 explains how to acquire properties in bankruptcy.