Foreclosures
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hospitable-deef083b895516ce26951b0ca48cf8f170861d742d4a4cb6cf5d19396b5eaac6.png)
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
1031 Exchanges
presented by
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_trust_1031_exchange-96bbcda3f8ad2d724c0ac759709c7e295979badd52e428240d6eaad5c8eff385.avif)
Real Estate Classifieds
Reviews & Feedback
Updated about 10 years ago, 11/29/2014
Deed in lieu of foreclosure
Hello!
I'm just trying to understand this...
I've heard a couple of stories regarding an investor loaning a dear friend cash to buy a distressed property including rehab funds. The investors friend; the borrower, cash in hand then dealt a deed in lieu of foreclosure through an attorney with the seller. The borrower was not only able to pay his friend the investor back right away, but take out a HELOC as the deal was not public therefore the lender saw him as having full equity.
I'm missing some important pieces to the puzzle so please help me out!