what if the house is listed under bankruptcies(active) what does it mean? are they different from forclosure?

Asked by buyer, 75013 Tue Oct 6, 2009

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Annette Law…, Agent, Palm Harbor, FL
Thu May 29, 2014
This question posted Oct 2009

Now we know it's the same, but different.
:)
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Cathy Browne, Agent, Plano, TX
Thu May 29, 2014
You should hire an agent who deals with these types of properties. A foreclosure can take a long time.
0 votes
Pacita Dimac…, Agent, Oakland, CA
Tue Oct 6, 2009
Here's an article I picked up from Nolo.com regarding "How bankruptcy can help with foreclosure"
http://www.nolo.com/legal-encyclopedia/article-29631.html

Depending on the type of bankruptcy --- Chapter 13 or Chapter 7 -- that the homeowner filed for, the homeowner may merely have DELAYED the eventual foreclosure.

http://www.nolo.com/legal-encyclopedia/article-29631.html

Note that Chapter 7 CANNOT cancel the foreclosure.

Until that time, if you're looking to buy a foreclosure, better engage a realtor to get you a list of properties that are bank-owned and are actively listed for sale.


Good luck!


Hope this helps.
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