Bankruptcy With Investment Properties

[ykvoca]

I would like to file Chapter 7 I have 4 small investment properties, 3 of those were foreclosed and 1 of them are under foreclosure, who do I include the bankruptcy papers to original note holder when I purchased the property, or do I have to investigate who is the last note holder which could be a nightmare.

Thanks

[frogger]

When in doubt....... list them all.

You definately want to list the last one that you made payments to, and I would also list whoever foreclosed on you if that is different.

[HHM]

You don't need to kill yourself looking around for who might have note, but list anyone that you know of that you have ever received anything from. Generally, if you list the last known servicer, that is sufficient.

[tcreegan]

Hi ykvoca,

I would think the foreclosure paperwork would have the holder of the mortgage note...

Tom in Colo

[ykvoca]

Thanks all for your quick response.
For me to try to figure out who the latest holder was is a nightmare, I can't even call the servicing companies to ask because they will never tell me, and even on the credit report some of them I wouldn't know for which property they are.

Therefore I'm just making sure that by law as long I include the original note holder I should be covered.

[HHM]

You also need to list the servicer. The servicer is an authorized recipient for legal service for the note holder.

[ykvoca]

Is there a database or some other websites where we could check who the bank who did the foreclosure is.

[HHM]

No offense, but how do you not know, did you never receive a notice of foreclosure?

When did you stop making payments? Just list the last entity where you sent a payment, that should be sufficient.

As for a database, just go to the county website where the property is located. Most land records are online, do an address search for the property, and it will show the chain of title, just look for the one after your name, that was the foreclosing entity.