Bankrupcy Got Letter From Bank
A friend of mine is renting 1/2 of a duplex he recived a letter from the bank stating the owner of the property claimed bankrupcy so the bank will be takling the house. How would i go about trying to buy the house its a duplex with both sides already rented out so that would pretty much cover the mortgage taxes and everything else i would imagine.
Ok thanks alot i will try to get the letter of of my friend
Your first step would be to contact the owner of the subject property and to see if there is a desire to do business.
As suggested you should get a copy of the letter to see if your friend has intrepid it correctly, as the courts may not be taking the subject property - bankruptcy courts do not normally foreclose or seize properties - the subject property may just be going into a trustee asset management for the purpose of proper distribution of rental income.
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