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10-18-2023, 02:22 PM #1
- Join Date
- Oct 2023
- Posts
- 8
Deal needs a funding but has a chapter 13 bankruptcy open
Does anyone fund a chapter 13 bankruptcy? Had a 55K deal 1.46 125 days declined in final underwriting because they just discovered at closing he had a chapter 13 bankruptcy. Not sure if anyone can match and fund with chapter 13 open.
Thanks.
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11-19-2023, 09:07 PM #2
- Join Date
- Oct 2021
- Posts
- 77
Lol
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11-20-2023, 08:47 AM #3
When you say it's an open bankruptcy, are they in a 5 year payment plan, or is it really open to be set up in a payment plan? Some lenders will do a hard money real estate loan in a Chapter 13 in a payment plan. Underatand if it's really an open bankruptcy, then this MCA can be thrown in to the bankruptcy and the lender is pretty much screwed.
Last edited by Olderguy; 11-20-2023 at 09:16 AM.
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