Great Example of the Trouble with Sub2 Wraps

[Account Closed]

I don't remember reading this thread when it first appeared a year ago.  It's a perfect example of the many things that can (and did!) go wrong when wrapping.  The end buyer had a lease option agreement, so was not in chain of title.  Hence, she had no ownership rights.  And as she was not the borrower, she had no way to work with the foreclosing lender.  She was very fortunate to get her $10K option deposit back.

http://www.biggerpockets.com/forums/105/topics/99088-need-help-any-input-appreciated