Other unsecured debt or claims will need a judgment and seek funds from any cash asset, the account may pay those out as ordered.I doubt I be interested in the brain damage buying small liens.

Do I have to get permission from the borrower to pay off their debt, or can I just do it by calling the bank and handing them a check.Also, it's been hard to find the exact amount of the 1st lien and the payoff (when junior lien is up for auction).

If a collector wishes to charge (collect from) a particular owner, unless the other owner is legally bound to share assets, like a marriage or subsidiary company, than the debt is only against the debtor's interest.

What is the legal obligation made, then the legal aspects as to the collateral, then to the legal obligations of both debtor and creditor, then to the financial aspects, time value of money, financial risks, types of financial arrangements to limit risks.

The models could be adjusted for lease renewal and refinancing risk as well as cap rate fluctuations to see what they do to the NPV of the two alternatives.On the surface, taking payments seems the best route as the only risk is really based on one guy's ability to repay the debt (or his company or family etc).

Most judgment debtors will tell them to go fly a kite.

So, I wouldn't cut hairs saying it's only the "lender's" problem.I'm not an attorney or a judge, but that's where I'd take it, more to who is responsible for this debt or mortgage instrument being used in this transaction?

Are you looking for debt or equity?

Look also to credit issues and foreclosures, on an application you'll be asked, have you every had any foreclosure or given a deed in lieu of foreclosure on any debt or mortgage.

As long as you have a good emergency fund (six months expenses), you can put that excess to paying down the debt. Or