In 2006, I purchased with cash (no mortgage) a piece of investment property (no house on it, just land) that I for $60,000. In 2007 I used it as collateral for a $200k business loan. (The $200k loan was granted to my LLC, but I personally guaranteed the $200k business loan and put up my $60k investment...

We are 1 year into our chapter 13 case. We just made our 12th payment!!! We are still in our primary home and our rental home tenants have stopped paying rent. Our attorney had informed us that we could always add our investment home into our bankruptcy. Here are my questions:
1. Would we...

We have Fl investment property. DJS had active foreclosures on them but has since abandoned their files and will close their doors April 1st. No new foreclosure mill has been assigned the cases. Are we still responsible for HOA & taxes until they foreclose? How can we quickly get these out of...

My question involves bankruptcy in the state of: I live in CA. I own my primary residence there with equity of about $50K. I have an investment property in NV. I am upside down about $80K. I can't find a renter. I am considering just letting the bank foreclose on it. I have researched Chap 7. My income...

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...

Hi,

I am trying to file a Chapter 13 bankruptcy and my attorney's paralegal called and said that I am not eligible and must do Ch 11 because I own an underwater investment lot (I paid $345k for it a few years ago, owe $290k and today it's worth $90k). I no longer want the lot and assumed...

Hey all,

Glad to have found this forum...and still somewhat in denial that I even needed to look for it.

I've got a few questions for the group here, but let me give you the lay of the land.


* In 2008, I was self employed, earning an income...

Hi everyone, I'm kind of new here so bear with me while I learn the ropes.

A few of my rental properties are in foreclosure and more will be going into foreclosure as well. Obama's Protecting Tenants at Foreclosure Act states that tenants in bona fide leases before the transfer of title...

Hi,
I'm new to the forum. If I bought my home as my primary residence, then got a 2nd mtg HELOC, then converted it to a rental, and I owe 88k on 1st and 60k on 2nd and it's worth $130k, can I cram down the 2nd because it's an investment property now? Or what are my options? Thanks!

I own 15 rental properties as my business (over 2 million in secured debt). A few of them are so far upside down, and I am letting them go into foreclosure. I also owe over $330K (used to finance the property business) in unsecured debt, which is why I have to file for bankruptcy, as I cannot afford...

Been lurking here for the last several weeks just trying to learn as much as possible about our impending bankruptcy. First, I must thank you all for the valuable information that you share - it certainly helps me sleep better at night.

Regarding our case, spouse and I own a consulting...