Hello all, We were in the final stages of filing bankruptcy when the husband died. The bank took the life insurance policy, and sold the equipment from the business. We had a cabin and were trying to keep interest in, but the bank would not let us. The Head branch is now offering the property for a low price with the stipulation that a contract to not come back on the bank is signed. What you have to say guys? Thank you.

If the life insurance policy, the cabin, and the equipment acted as collateral for a loan, and the loan was in default, the bank could take it.