Compare Mortgage Quotes

ewwkids · Joined: 03 Apr 2008 Posts: 3 1.40 Dollars($)

my landlord filed bk about two weeks ago. she wants to sell me her property. she wants to "quit claim" it to me she owes 160k on the property and wants to sell it to me for 70-80k is this possible??????

jameshogg

Hi Ewwkids,

Welcome to forums.

Has your landlord filed Chapter 7 bankruptcy? and is that the reason she hasn't included the home? You need to be sure of what she is actually trying to do - whether he'll simply do a quitclaim or a sale. Does she want to sell in order to protect her house from being liquidated as is done with non-exempt properties of debtors in some states?

Thanks

Caron

Hi,

Quitclaiming or selling property which should be otherwise included in bk can be considered a fraudulent act. So, check out the bankruptcy laws in your state before you accept such a property. By the way, what type of bk has your landlord filed and what debts are included there? just asking so that I can give you a better suggestion.

Good luck

ewwkids · Joined: 03 Apr 2008 Posts: 3 1.40 Dollars($)

i apologize for giving the wrong info. by the way she filed a chapter 7. she actually says that she wants me to do a "short sale" on the property. she owes the bank 160k and she says that i can negotiate a "short sale" to them for about 60-70k. she says that they will probably take the offer. now my question is does she negotiate the short sale or do i??and also do i have to have a preapproval from a mortgage co. or bank in order to be able to "negotiate"??.

Niicss · Posted: Sat Apr 05, 2008 1:50 am Post subject:

Welcome back ericka,

This has been answered at http://www.mortgagefit.com/propertytransfer/about11176.html#48537

Let me know if you have any more queries.

Guest

Can I do a quit claim if I have file bankruptcy

Niicss · Posted: Mon Aug 18, 2008 6:59 am Post subject:

Welcome Mary.

It all depends what type of bankruptcy you have filed. If you have filed chapter7 then you should not quitclaim it. By the way you should consult it with a bankruptcy attorney.

Guest

My mom filed chapter 7 bankruptcy in 2010 and this guy bought the home in a tax sale this year 2011 and says that my mom's name is still on the property that she needs to sign this paper so he can get the deed in his name. My question is why would her name still be on the deed to the house if she filed bankruptcy on it? Can someone please help me!

jameshogg · Posted: Sun Feb 20, 2011 10:34 pm Post subject:

Hi Pat,

Unless your mother signed a quitclaim deed and transferred her property to the new owner, her name will remain on the property deed. So, she should sign the deed and transfer the property.

Thanks

Property State:
Property Type:
Credit Rating:

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

should i have a property quit claimed to me if the owner fil