All Forum Posts by: Alice C.
Alice C. has started 4 posts and replied 16 times.
Post: I am a private money lender. Borrower keeps filing bankruptcy
- Richmond, CA
- Posts 16
- Votes 0
Originally posted by @Jack L.:
Hi Alice
There is an attorney and his name is Bob Diamond Diamondlawcenter.com I have not had any dealings with him in about seven years or more, but he use to be a very good real estate non-guru at that time. He is very intelligent in making money with real estate and owns a a lot of properties, but after his brother joined him in business he turned him into a marketing machine.
I don't think it is very likely that you would get to speak with him directly any more, but you can try because he may very well also be able to direct you to an attorney in you area as he a large attorney network.
As an alternative to this you can try Martindale-Hubbell http://www.martindale.com This is a site where you can find an attorney or law firm in a state and city you need. You can search by practice areas (real estate, bankruptcy, etc.) It also gives peer review ratings and client ratings. So you could use this to check on the attorney you are currently using.
I hope this will help you.
Jack
Thanks very much Jack!
Post: I am a private money lender. Borrower keeps filing bankruptcy
- Richmond, CA
- Posts 16
- Votes 0
John Warren - good call!
Post: I am a private money lender. Borrower keeps filing bankruptcy
- Richmond, CA
- Posts 16
- Votes 0
Hello All,
Thanks for all your great ideas and suggestions.
@Chris Martin thanks for correcting me. Low LTV!
PM me should you have any good proposals to work with me in this one. Please do not try to take advantage on my situation :) I prefer win-win.
I have another borrower looking to re-fi before I proceed foreclosure.
Post: I am a private money lender. Borrower keeps filing bankruptcy
- Richmond, CA
- Posts 16
- Votes 0
Thanks Chris! The reason I lent to him because the property had very good equity = high LTV.
Post: I am a private money lender. Borrower keeps filing bankruptcy
- Richmond, CA
- Posts 16
- Votes 0
Thanks Jay. You are so right. Yes, it is very expensive.
In the contract it does say "rent assignment" and the property is investment property. But he claimed to the judge it is his primary resident! Yes, he lives in there! Somehow my attorney said it is better for the case...
The borrower is a RE broker.
Post: I am a private money lender. Borrower keeps filing bankruptcy
- Richmond, CA
- Posts 16
- Votes 0
Hello experts,
I lent money to a borrower to buy a property in Chicago. But he stopped interest payments after few months and didn't pay anything after loan maturity. I then engaged an attorney to proceed with foreclosure. He went to file Chapter 13 bankruptcy (Pro Se). But later the bankruptcy was dismissed by the judge. So, my attorney proceeded with foreclosure, he then hired an attorney to file for another chapter 13 bankruptcy. He has no money to pay as he has very low income with high debts. However he managed to come out with bogus payment plans to the trustee. I am trying to get my attorney to file motion to object automatic stay. Anybody knows what will be my chance to succeed in a case like this - can a borrower keeps filing bankruptcy to avoid foreclosure?
Kindly help. Thanks much.