You are very fortunate to be exposed to a formal real estate education.

I have long advocated informing the lender in all installment contracts, wraps and sub-2 transactions.As John mentioned, a properly given notice will keep them from saying they didn't know but more importantly, after a period of time and if a formal objection is not made or notice to accelrate the loan is not made, that may be construed as acceptance of the deal!

Jim,Thanks for offering your opinion.Like you I do think the issue was the fact that effectively the person was brokering.Tangent and my opinion on being a birddog.The structure used is a lot more formal than what most birddogs work with.

Lets gets some facts and terms clear.A pre-foreclosure could mean that the person is behind but the formal foreclosure process has not started.A foreclosure tends to mean the process from the NOD until the auction.

Chaz - Thanks for the formal introduction, even if a bit late.

You may not have a formal club in your area but you may be able to find some like-minded people to network with through other means.

Sets you apart form all the rest.

(I assume you are talking about a project big enough that the Town required a formal traffic study to determine the projects impacts on the nearby roads.

Some practices vary by state.Was this a judicial action or a trustee action?

HiIn light of the current down market in many areas, I am thinking that the next year will be a good time to jump in to the 'buy, rent and hold' strategy.I have been reading the Landlording forum here, but I was thinking that it might be a good idea to get some formal training and education in that area before getting started.