We have a third on a campground in Northern California we sold to my son-in-law in 2005. He had a bridge loan that became due just as the loan market went south. He had to file for bankruptcy. An investor in the project had his daughter file the paper work for a Chp 7 and then convert to an 11. She admittedly did not know what she was doing. The judge gave son-in-law 150 days to find a new attorney and get a plan approved. About twenty days later his attorney goes to court and says: debtor had been using collateral funds, (she had approved). She asked to be freed of the case, so the judge freed her and ended the relief of stay. The first is preceding with the foreclosure, the property being their sole income. Is there a way to save our investment and keep the bankruptcy open?
