Contract for deed, bankruptcy, 401K
I would like to buy a home on contract for deed and most likey will have to file bankruptcy in the future. Problem is I need a downpayment and I willing to take out a loan from my 401K of $15000.00 which I will have to pay back thru weekly payments. I have a short sale pending on my house that I owe 57K on the second and about 60k in credit card debt.
Is there a chance that this could be a problem in bankruptcy if I file?
contract for deed
i have sold a property on a contract for deed, i’m looking at bankruptcy and wondering how that will be affect as at the end of three years their could be some money to me from that property.
After purchasing a home on a land contract the owner has now declared bankruptcy. How does this affect us in our contract with the owner?
our land contract vendor is in bankruptcy
We have purchased a condo on land contract and now the person we bought from is now in bankruptcy. They still have a mortgage against the property as well. The value of the condo has dropped dramatically and we cannot refinance or sell. We don’t know what is going to happen as the person we bought from is not giving any information. This entire situation has been a disaster and we would like nothing more than to get out of this situation and get back to apartment life. We also don’t know if we should be sending the payments to the person we bought from or if we should hold it in escrow. The question is how can we get out of the land contract if possible and what to do with our payments until we figure something out?
Attorney never finished
My husband and I filed bankruptcy 5 years ago. We have since then purchased a new van and house. We bought our house on land contract originally, but have since refinaced with extremely high rates. We were recently given the opportunity to refinance at a much lowere rate. While going through this process, we discovered that our Attorney who had worked on our bankruptcy had failed to do the discharge portion. How will this affect us? Can we lose everything we have aquired over the past 5 years? Will we have to wait another 7 years for our credit to clear up again?