I could say a bird in the hand is worth two in the bush, besides that, I'd ask the BK attorney what the time line was, it shouldbe approved by the court fairly quickly, depends on how things move there, but..The second note holder wasn't notified of the sale or the BK, or both?

Forcing sales of homes actually current on their mortgage so the mortgage holders take losses to the benefit of whoever gets the contract from the municipality to buy the new refinances just doesn't seem ethical or legal to me.

At that point, I, as the rehab buyer (party C) could then ask my seller, party B, why he is not current title holder.

Marie has given you the right path, the lien holder will be on the deed of trust, contact that lender at any branch (if a bank) and they should be able to direct you to the asset managers.

Thanks all.Sounds like a better way to go would be trying to seek out existing voucher holders that are looking for a new place to live, instead of creating section 8 tenants from your current tenant stock.BTW- this is for rentals in Genesee County, MI.

You could bring in a money partner to stabilize but getting something is better than losing it and getting nothing.You could also look at selling to a land holder or a developer for cash to tear it down and rebuild something better.You can also approach your bank and explain your repair situation and see if they will help with the repairs to protect from a default and huge loss.Some small banks will do this sometimes.To the big banks for the most part you are just a number and a loan that has to be worked through.A HML loan will eat you up and I don't recommend that.A regular lender will not touch a property like that.

Read links I supplied earlier, explaining about certificates of insurance and that you are to be named as certificate holder or additional insured.

There are many, many strategies you can employ including some where you are not a deed holder, but simply using your funding to supply an experienced investor with capital for a short period of time.

I ask as an investor, if i were to own the house after a fix and intend to re-sell it. i worry that disclosing that if i am a license holder may allow them to either try to negotiate the price lower or be turned off from the transaction.

If you collect payments on a note for another note holder, license required, you are a loan servicer.