We are a family owned GM Dealer. Have been for 45 years. We had to file Chapter 11 and hope in Jan 2010 that will be over. We have a property which is valued at $330,000.00 with a balance owed of $124,000. The bank holding the mortgage would not re due the mortgage when the balloon came due. I believe basically because we are in Chapter 11 although they do not say. And at this point have decided to foreclose. We live in a small town and have tired the banks in our area. They will not do a mortgage and give no reason. My question is - where do we go for a mortgage? Chapter 11 is to reorganize. We have the funds to pay the $124,000 or more loan. Where do people go in these types of problems?
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