Comments on: What’s the Big Deal with Note Rates? http://noteinvestor.com/sellers-corner/what%e2%80%99s-the-big-deal-with-note-rates/ Everything you need to know to Buy, Sell, or Create a Note! Fri, 03 Sep 2010 14:57:11 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: TracyZ http://noteinvestor.com/sellers-corner/what%e2%80%99s-the-big-deal-with-note-rates/comment-page-1/#comment-3101 TracyZ Thu, 18 Mar 2010 13:58:30 +0000 http://notesellerblog.com/?p=67#comment-3101 Hello Mile, It gives me a headache to just hear of a buyer filing bankruptcy on a seller carry-back note! Unfortunately I've had this happen on notes we own and yes, the headaches, costs, and time delays can add up. We've had buyers that worked out a repayment plan and stuck to it, eventually getting current and even paying off the loan. We've also seen buyers use bankruptcy filing solely as a delay tactic to foreclosure. I'm always a proponent for an easier way to work things out with the buyer, including buy-backs, deed in lieu of foreclosure, or realistic repayment plans. Just be careful to follow the rules and laws, especially when a buyer has already filed or is planning to file for bankruptcy. There is quite a bit of red tape that a qualified attorney can help you with. Please feel free to email me through the website or call the office if you would like to discuss further. All the best, Tracy Z. Rewey Hello Mile,

It gives me a headache to just hear of a buyer filing bankruptcy on a seller carry-back note! Unfortunately I’ve had this happen on notes we own and yes, the headaches, costs, and time delays can add up. We’ve had buyers that worked out a repayment plan and stuck to it, eventually getting current and even paying off the loan. We’ve also seen buyers use bankruptcy filing solely as a delay tactic to foreclosure.

I’m always a proponent for an easier way to work things out with the buyer, including buy-backs, deed in lieu of foreclosure, or realistic repayment plans. Just be careful to follow the rules and laws, especially when a buyer has already filed or is planning to file for bankruptcy. There is quite a bit of red tape that a qualified attorney can help you with.

Please feel free to email me through the website or call the office if you would like to discuss further.

All the best,

Tracy Z. Rewey

]]> By: Mile Stankovic http://noteinvestor.com/sellers-corner/what%e2%80%99s-the-big-deal-with-note-rates/comment-page-1/#comment-2988 Mile Stankovic Thu, 04 Mar 2010 14:07:48 +0000 http://notesellerblog.com/?p=67#comment-2988 What if the buyer files bankruptcy and is holding a seller carry note in the 1st position? To avoid headaches and costs is it better to offer the buyer a contract to buy? Property in question is a 1.5 acre improved lot in Gilbert, AZ. Thanks, I enjoy the website very much. Mile What if the buyer files bankruptcy and is holding a seller carry note in the 1st position?
To avoid headaches and costs is it better to offer the buyer a contract to buy?
Property in question is a 1.5 acre improved lot in Gilbert, AZ.

Thanks, I enjoy the website very much.

Mile

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