Bankruptcy Deals

Bankruptcy Deals

Real Estate Agent · WA · Member since 2008 · 41 posts · 0 votes

I listened to the Bob Diamond webinar on bankruptcies and I'm curious as to how the system works.

What's the process of capitalizing on bankruptcies and how do you do it?

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  • Real Estate Investor · Belvidere, IL · Member since 2009 · 169 posts · 65 votes
    17y

    I believe the system basically revolves around contacting homeowners who have had their bankruptcy, Chpt 7 or 13, recently discharged or dismissed. If they were in pre-foreclosure, the bankruptcy gave them temporary protection and the foreclosure was suspended. The discharge or dismissal releases that suspension, and the foreclosure continues from where it left off. They are now prime candidates to contact for a short sale, particularly since they are now under the radar, having, in a sense, been out of circulation for a while.

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