Contacting About Preforeclosures
Who should I contact when calling about bankruptcies...the lawyer or trustee? Ho w do I know if the person filing owns property from the documents filed?
Who should I contact when calling about bankruptcies...the lawyer or trustee? Ho w do I know if the person filing owns property from the documents filed?
Which should I be looking for chapter 7 or 13???
I think you would have to contact the homeowner since he/she actually owns the property and no one else can negotiate on his/her behalf until the property is actually foreclosed on. Once a price is negotiated, it would have to be run by their attorney then trustee and presented to the judge for approval. The law states, in IL anyway, that a property cannot be sold or refinanced without court approval. I just bought one like this last month. I paid out his Ch. 13 and got a nice price on the house. Once you work out a good deal for yourself and the seller, make sure it is presented with their attorney to get the ball rolling. His atty. drug his feet, but we got it done.