The city told the church that they either have to fix up the buliding or sell it, or they will demolish it.The buliding needs a full gut rehab, and I am a newbie investor.Here are the problems:The lien holder on the house illegally sold the building to another owner, by posing as the reverand of the church.

Otherwise it will have to take the hit on negative equity.So I would think that we will be seeing a lot more flexibility of the mortgage holders in the near future to keep people in their homes.Are you guys seeing any of this happening yet?

End investor could get 15% cash on cash return which is attractive to many self directed IRA holders.

In a foreclosure the seller is the trustee or lien holder via sheriff, so if I understand this right, you were at the courthouse or other sale location with cash in hand (LA I believe requires 100% cash the day of the sale) and the seller (trustee or sheriff) "went cold"???

For a proper assignment you will, for one thing, need to recite the subject property and that lien being assigned, I have never seen a draft big enough....LOLThe lien holder will have to execute the assignment agreement and endorse the instrument representing the lien, like a note.Some liens can be acquired by law, like a tax lien or paying a materials lien depending on state law.

She is in another state, without internet or fax.Day 83 - Get lien information, and contact lien holders - HOA tells me they won't settle.Day 84 - Bank tells me I have 1 week to close and fund or its headed to foreclosure.Day 92 - (8 days later) HOA and 2nd lien want to settle.Day 92+ - Can't get ahold of bank / asset manager.

Chris-I am also sorry to hear about your experience in trying to help the holder of your note sell it.

You list for sale at say $110k, then when you sell, the end buyer is paying $110k, just like any "regular" transaction, and 70k, goes to the family (less the option fee you already paid) and the rest goes to you, as the option holder.

There was a reverse mortgage on the house and I need help on how to structure this transaction.The current LTV based on a appraisal performed by the current lien holder is about 56%.

Hi everyone,I'm currently a 60% investor on a rental property out in California and was wondering how I can be setup as the first lien holder on the property?