I filed for BK last year which was discharged. I surrended the investment properties but the banks on 2 of the properties have still not taken them back yet in almost a year after the discharge. There are two investors interested in 2 of the properties and wanted to know if I should do short sales on them. I was going to just wait until the banks take them back but in the meantime I am paying the expenses of their upkeep to keep code enforcement from sending me letters. Should I go ahead with pursuing the short sales? I don't want any money back, I just want to get the properties out of my name and be rid of them asap.
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Should I short sale investment properties after Bankruptcy discharge
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You should call the bank and ask why they have not taken back the properties. They probably don't want to have to book them as an REO asset since that is considered a "non-performing asset" on the balance sheet. Tell them that you are willing to seel the properties for them and send them 80% of the money if they will accept that in satisfaction of the debt in full. It might be worth it to them to have you do this. Who knows!Take $10 billion from the government and then sue me...nice
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