BANKRUPTCY . . . The Banks Worst Nightmare
When You Understand the Bankruptcy Process in Detail, You Can Get a Lot More Short Sale Deals Accepted by the Bank!
As our market changes, bankruptcy knowledge is becoming a more important part of the short sale negotiation process than ever before.
It's almost impossible to get good short sale deals these days without some knowledge...the more you have the less the bank can shut you down...
On our most recent teleconference our host Norm Reid interviewed Bill Twyford about the topic and discussed:
How today's market is affecting the bankruptcy process, and what we as investors need to know and do about it.
The phases of Bankruptcy:
Who can file and when
Chapter 7 or 13? What are the differences, which ones can we work with.
What is the 341 Hearing and what we need to know about it.
When homeowners use or don't use an attorney, how it will affect our short sale.
How late the bankruptcy can be filed before the foreclosures sale date.
Where we as investors fit in
Once we gain an intimate knowledge of the process, what do we do with the information and how will it help us with our real estate investing.
How can we talk to homeowners who think they want to file in order to "buy" more time to negotiate.
How to deal with the bank when bankruptcy is on the table.
How to stop the bankruptcy process and get a short sale accepted
Why investors who know the bankruptcy process are getting a lot more short sale deals accepted in less times and at lower prices.
This teleconference came at a very timely point to fit in with our current market and short sales and to give us a brief intro before our February meeting when our very own MAREI members attorney David Nachman and attorney Ronald Kraft join us for our Legal Eagle night.
If you are working short sales at all or know of someone who may be facing foreclosure and a possible short sale, reviewing this teleconference and brining your general foreclosure and bankruptcy processes questions to the meeting will help you be able to deal with more motivated sellers facing foreclosure or bankruptcy.
To listen to the teleconference please click on the "teleconference link" on the MAREI web site at www.MAREInet.com. The replay from this call will be posted on the web site through February 12th. After that MAREI members will be able to access this call by logging into the Member Area and accessing the our teleconference archives through the "GURU" page.
While there review a few of the other teleconferences. We have over 60 calls on just about every subject you as an investor may have questions about.
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