Payor Bankruptcy
Hi All,
I am currently brokering a note in WA and found payors credit to be 467 with an open bankruptcy! I don't even think seller is aware, but will be soon. I now have to reapproach seller with a deep discount should anyone risk buying note, or pass all together! The note is current and valued at $48K, I was close to pulling $3-6K in profit and now I'm looking at what appears to be dangerous territory. Are there buyers out there for a note currently in bankruptcy, or even recent bankruptcy for that matter? Does it need to be closed first to make sure no liens are attached to property, etc.? Is payment history still a deciding factor? Any experienced help is appreciated. -Pete <IMG SRC="images/forum/smilies/icon_confused.gif"> [ Edited by pacfranz on Date 03/07/2003 ]
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