ANSWER:
That might work out fine since the Court collects their monthly payments
in a Chapter 13 BK
and pays the note holder directly.
1. The note owner will not be earning as high
of a return through BK, but he is still earning a decent return because he only
paid 55% of value.
2. The note holder has a choice to keep the
note with the lower return or it can be re-sold to another note buyer.
3. The new note buyer may like the fact that
the Court is collecting the payments for him.
4. If they file a Chapter 7 or Chapter 11, JUST
TO STALL MOVING OUT... then, we will align ourselves with a 3rd Party legal service to get them out. It could cause a 45-day delay in CA, but each State is different, so you will need REPS
to guide you with choosing your Note from a vacant property versus an occupied property.
