How can we get out of land investment due to developer filing bankruptcy?

Asked by Dari Damazo, 30114 Fri Nov 21, 2008

Want to see if anyone has any suggestions for ways to get out of a loan for mountain property as builder recently filed bankruptcy and land is worthless. Not as concerned about damages as getting out of the lot and the loan at this point.

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John Mulkey’s answer
John Mulkey, , Waleska, GA
Mon Jan 5, 2009
The terms of your agreement will dictate your options. While it can be complicated, you may be able to solve it satisfactorily. I recommend seeking the services of a good real estate attorney. They will be able to provide the guidance you need.
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Hank Miller, Agent, Alpharetta, GA
Fri Nov 21, 2008
Get a call into an attorney - the type of bankruptcy filed may dictate your options -

Call Scott - he is very experienced in this type of issue

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Tori Lawson,…, , Fayetteville, GA
Fri Nov 21, 2008

Are you represented by an agent? I recommend you speak with an attorney.
Best of luck, please advise if I can assist any further.
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