Bankruptcy on Courthouse steps Foreclosure
I've bought a couple foreclosures on the courthouse steps and so far I've done ok doing my own title research. One thing I'm not exactly clear about is bankruptcy. I know you're supposed to check that and I know the records are online at Pacer. My question is what I'm looking for exactly. I passed on one last auction where the owner had literally just had a bankruptcy case closed. Is it only open bankruptcy cases that are a concern?
Reading on Chapter 7 vs. 13 it looks like 13 would stop a foreclosure but 7 would not is that correct?
I know this is probably a good question for my lawyer next time I talk with him but I thought I would see if anyone here could shed any light.