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Hi, I'd like to assist you with your bankruptcy questions this afternoon.
The obvious answer (that may or may not work for your father-in-law, depending on his particular financial situation) would simply be to convert to Chapter 13 and pay the mortgage arrears through the Chapter 13 Plan over 3 or 5 years.
This would also buy time.
To qualify for Chapter 13, your father-in-law must have unsecured debts of $336,900 or less and secured debts of $1,010,650 or less.
Alternatively, you could contact the Trustee to explain the situation. The Trustee would typically negotiate the terms of sale with your and/or your broker, which could take some time. The Trustee would likely object to the mortgage lender being granted stay relief while you were attempting good faith negotiations to purchase the property from the estate.
Another viable alternative (although not the best course of action from your father-in-law's point of view) might be to simply allow the bank to obtain relief from stay and foreclose on the property, then purchase the property at the foreclosure sale.
Please let me know if you have any additional questions.
Thank you, XXXXX XXXXX luck!
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