Re: So humored!

---

Posted by Reinstatement Services, Inc. on June 28, 2003 at 11:30:54:

In Reply to: Re: So humored! posted by Jay Goerke on June 27, 2003 at 19:05:17:

The sale WILL NOT go through if the lender does not agree to accept less than owed...bankruptcy or no. Your lender will not allow Title to transfer clear because of their interest...and no one wants to purchase a property without clear Title. Result - you will lose your buyer.

Bankkruptcy will not prevent Foreclosure from taking place. The foreclosure process will still take place so that the lender can legally divest you of your rights to the property. Bankruptcy [specifically chapter 7] absolves you of the debt. The foreclosure process strips you of your legal calim to the property.

A lender approved short sale is necessary to accomplish your goal.

• Default and Foreclosure Solutions

Follow Ups:

• One Second --- what about Jay putting it in a trust to ... - Ark 22:09:01 06/28/03 (1)
  • Re: Might be a little late for that. - Jim V 00:56:46 06/29/03 (0)
• Re: So humored! - Jay Goerke 14:27:25 06/28/03 (0)

---

Name    : 


E-Mail  : 


Subject : 



Comments:




: The sale WILL NOT go through if the lender does not agree to accept less than owed...bankruptcy or no. Your lender will not allow Title to transfer clear because of their interest...and no one wants to purchase a property without clear Title. Result - you will lose your buyer.





: Bankkruptcy will not prevent Foreclosure from taking place. The foreclosure process will still take place so that the lender can legally divest you of your rights to the property. Bankruptcy [specifically chapter 7] absolves you of the debt. The foreclosure process strips you of your legal calim to the property.





: A lender approved short sale is necessary to accomplish your goal.








Optional Link URL : 


Link Title        : 

If you press "Preview Message," you are taken to a preview screen where your
message is shown to you before allowing you to post it.
Your message is not finalized until you click "Post Message".

---

[ Follow Ups ] [ Foreclosure Discussion ] [ All Foreclosure Home ] [ FAQ ]