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hi i went bankrupt it was dicharged dec 09...is it possible…

Customer Question
hi i went bankrupt...
hi i went bankrupt it was dicharged dec 09...is it possible to find an owner financing home ?

for sale by owners? how would i approach this opportunity if its something that could be done...thanks
Submitted: 8 years ago.Category: Real Estate Law
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Answered in 2 minutes by:
6/9/2010
Real Estate Lawyer: TJ, Esq., Attorney replied 8 years ago
TJ, Esq.
TJ, Esq., Attorney
Category: Real Estate Law
Satisfied Customers: 12,810
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Hi. Your question is fairly broad. Can you clarify what you mean by "how would i approach this opportunity"?
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Customer reply replied 8 years ago

sure how owuld i approach a for sale by owner to see if they would be interested in owner finacing? is it doable if im bankrupt? ty

Real Estate Lawyer: TJ, Esq., Attorney replied 8 years ago

Hi again. Assuming you’re not in the middle of a Chapter 13 plan, then the bankruptcy will not prevent the deal from taking place. As for how to approach the owner of a house, I suppose you’ll just have to explain your circumstances and see what he says. He won’t be required to sell to you, but since the loan is secured by the house, then the seller would be protected knowing that he’ll be able to foreclose if you failed to make payments. You may want to stress that point so that he feels comfortable knowing that he'll either get the money or the house to resell should you default on the contract.

Have I satisfactorily addressed your concerns? If not, then please feel free to ask for clarification.

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Edited by TJG, Esq. on 6/9/2010 at 2:01 AM EST
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