I have some interested buyers that got the house under contract, with a deadline to cancel for inspection period today.

Is this done on a monthly period and then when I refinance I pay back the borrowed money? 

You are not providing personal guarantee, and not assuming the loan.

I typically try not to stress myself out about the HELOC turning into a loan after 10 years because anytime prior to the 10 year due date you can refinance the HELOC and that basically starts you over on your 10 year draw period.

That would be a guaranteed lose of some amount.

They guarantee the payment won’t go above a certain percentage of your income.

@Steven Young, I have attended an auction (Dekalb county) and what I could realize is: As it is a redeemable deed State You gonna buy the property and only will be able to gain possession of it after a year (redeemable period) - also going to take some extra days to deal with the foreclosure process.

I wanted to make sure I understand what that means and was hoping you can help:IRS Liens recorded on 6/8/11 & 6/24/15 (the one recorded on 6/8/11 is for back taxes all the way back to the tax period ending 12/31/2007) Total Lien of about 130K.The foreclosure is for a mortgage originated on 4/11/2008, it was re-assigned on 5/2016 and modified on 6/2017.Some other information: The IRS is not mentioned anywhere in the mortgage complaint or was not named in the suit by the bank's attorneys.

A 5% return over a period of 4 months is not that bad (15% annually) the problem I see is that you are equating the risk of this loan to the fact that it is family (his wife has a good job).

If there is a redemption period, someone reselling the property would have no affect on this, and their redemption price would be the price at the foreclosure auction, not a subsequent sale price.I can’t see double wholesale on a REO working out very often.