My dad taught me decent financials growing up and I'm the only one in my family who hasn't made a financially poor decision(some sort of bad debt or bankruptcy.)

If the seller files bankruptcy in the future you have to prove to the court that you bought the house fairly.

There are also some risk with this strategy especially if the defaulter files bankruptcy which could complicate issues.

This form is sent to the borrower, investor, and the summary form is sent to the IRS.Other fee for services may include door knocking, bankruptcy research and filing of proofs of claim, providing credit reports, workouts with borrowers, loan modifications, short sales, REO (Real Estate Owned) management, inspection services, foreclosure management, etc.SERVICER OF RECORD OPTIONA servicing company may also offer you the opportunity to do your own workouts with the borrower while using their license as “insurance” (this is what we meant by “insurance reasons”).

I have received notice of them filing Bankruptcy Chapter 7. 

I just stubbled upon mysmartmove, it charges the applicant $25 to $40 for an extensive screening which includes; credit score, criminal background, eviction history, and bankruptcy.

Remember, they can always refer themselves😊Now, make it a goal to call at least 5-10 of these people EVERY day and ask a MAX OF THREE off the list below of who they know that:Just inherited a homeHad a loved one pass awayIs behind on their mortgage or tax paymentsHas a relative that can’t take care of their house anymoreHas a house they’re having trouble sellingIs facing bankruptcyKnows a probate attorneyKnows a bankruptcy attorneyetcWhy only three off the list per contact?

In the first example, the asset may be priced at a 10 cap but the tenant has a high risk of going out of business before the end of their 10 year lease term so after year two, they file bankruptcy and the owner is left with a negative return as they are funding all expenses themselves and paying to re-tenant the building.

I’m specifically looking for properties with potential that are priced under $200k.I had a Chapter 7 bankruptcy discharged approximately 2.6 years ago, so I’m currently eligible for FHA loans.

., bankruptcy, further liens, or disputes).