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Bankruptcy

Homeowner dealing with financial and property challenges

Dealing With Bankruptcy or Serious Debt? Your Property May Be Part of the Solution.

When financial pressure becomes overwhelming, a property with equity may be one asset worth evaluating. A sale could potentially convert real estate into cash that can be addressed as part of your broader financial or bankruptcy strategy.

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Financial Problems Are Hard Enough Without Feeling Trapped by Your Property.

Mounting debt, creditor pressure, missed payments, and the uncertainty of bankruptcy can make it difficult to see what options are available. If you own real estate, understanding what that property could potentially contribute to your situation may be an important conversation to have with your attorney or other qualified professional.

When Real Estate Becomes Part of the Financial Problem

The property itself may have value, but carrying the property while dealing with financial hardship can create additional pressure.

Behind on Payments

Mortgage payments, property taxes, insurance, utilities, and maintenance can become difficult to manage while you're already dealing with other debts.

Creditors Are Demanding Payment

When debts are piling up, you may be looking at different ways to turn available assets into cash and address outstanding obligations.

You Have Equity in the Property

If the property's value exceeds its mortgage and other liens, there may be equity worth discussing as part of your overall financial strategy.

You Don't Want to Keep the Property

If keeping the home no longer makes financial sense, selling may be one option to discuss with your bankruptcy attorney or other advisers.

Property being evaluated during financial hardship

You Don't Have to Wait Until Things Get Worse to Explore Your Options.

If you're considering bankruptcy or are already involved in a bankruptcy case, the property you own can raise important questions about equity, liens, exemptions, and how a sale would affect the case.

A direct sale can sometimes provide a way to turn real estate into cash without going through a traditional listing process. But whether a sale is appropriate depends on your specific bankruptcy case and the rules governing your property.

M&G Property Brothers can evaluate the property and provide a cash offer for consideration. Your attorney and bankruptcy professionals can then help determine whether and how a sale can move forward.

What to Understand Before Selling

Bankruptcy changes the normal process of selling property, so the right people need to be involved before you move forward.

Chapter 7 Is Different

Chapter 7 is a liquidation process in which a trustee administers the bankruptcy estate and may sell nonexempt property for the benefit of creditors. Whether your home is affected depends on the specific circumstances of the case.

Chapter 13 Works Differently

Chapter 13 generally allows eligible individuals to keep property while making payments under a court-approved repayment plan. A proposed property sale may therefore need to be coordinated with the trustee and the bankruptcy process.

Liens and Equity Matter

Mortgage balances, tax liens, other secured debts, exemptions, and the property's value can all affect what happens to the proceeds from a sale.

A Direct Way to Explore a Property Sale

If selling your property is something you're considering, M&G Property Brothers can provide another option to evaluate alongside the advice of your bankruptcy professionals.

Sell As-Is

You don't necessarily have to complete every repair or update before we evaluate the property.

Skip the Traditional Listing

A direct sale can provide an alternative to preparing the property for showings, listing it publicly, and waiting for a traditional buyer.

Review the Numbers

We can evaluate the property and provide an offer so you can discuss the potential numbers with your attorney, trustee, or other qualified adviser.

Don't Sell a Property in Bankruptcy Without Understanding the Rules.

Bankruptcy can place restrictions and requirements on the sale or transfer of property. Depending on your case, the bankruptcy trustee, court, mortgage lender, or other parties may need to be involved or provide approval. Talk with your bankruptcy attorney or qualified legal professional before signing a contract or transferring an interest in the property.

Ready to See What Your Property Could Be Worth?

If you're dealing with serious debt or considering bankruptcy, tell us about the property. We'll evaluate it and provide a cash offer you can take to your professional advisers for consideration.

Get Your Cash Offer

M&G Property Brothers is a real estate investment company and is not a bankruptcy attorney, law firm, financial adviser, credit counselor, or trustee. Information on this page is for general educational purposes only and is not legal or financial advice. Bankruptcy laws and procedures vary based on the type of case, jurisdiction, property, debts, liens, exemptions, and individual circumstances. Consult a qualified bankruptcy attorney or other appropriate professional regarding your specific situation.

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