We hold 2nd mortgage, they've filed for Ch. 11
This is a discussion on We hold 2nd mortgage, they've filed for Ch. 11 within the Debt Collection forum, part of the BANKRUPTCY & DEBT COLLECTIONS category; We gave a 2nd mortgage to buyers of our house. They have almost immediately filed for bankruptcy. The 1st morgage ...
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Jun 6th, 2007, 12:05 PM
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We hold 2nd mortgage, they've filed for Ch. 11
We gave a 2nd mortgage to buyers of our house. They have almost immediately filed for bankruptcy. The 1st morgage holder has filed with courts and received an automatic stay. We sent in a Form B10 (Proof of Claim) that came back stamped "No Asset Case." What's our next step?
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Jun 9th, 2007, 03:05 PM
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#2 |
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Veteran Member
 
Join Date: Mar 2007
Posts: 450
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Re: We hold 2nd mortgage, they've filed for Ch. 11
call the trustee to discuss; normally he will help direct you
have counsel assist (or at least review the bankruptcy papers) if need be |
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