Also there is no formal partnership.

If you make even one loan or do a single lease option you must have a formal Compliance Management System in place and working in order to avoid serious consequences.A Compliance Management System must consist of:1.

I had success in getting foundation companies to come out and evaluate the property, provide a formal estimate for the repairs, and have no issue providing the required supporting data for Fannie Mae.

But then the article goes on to name ways both judicial and nonjudicial in which a lender will seek deficiency within the state of Texas.

Ease of foreclosing - much longer foreclosure process in judicial foreclosure states than non judicial foreclosure states.5.

In all of the states I've worked in (as an assessor) there have been three steps: (1) an informal request for review of the assessment to the local assessor; (2) an formal appeal to a local appeal board; and (3) a formal appeal to circuit court, tax tribunal, or state revenue commission.

Hey BPers, I'm piggy-backing off of a thread I started in the Real Estate Marketing Forum: http://www.biggerpockets.com/forums/87/topics/113063-pre-foreclosure-foreclosure-leads-in-a-judicial-foreclosure-stateA quick summary for those not interested in reading that thread, foreclosure processes in judicial states are handled within the court system and as a result there are no public notices required like in non-judicial foreclosure states.

In judicial states, most assumed it would be the lis pendens.

An email explaining that effective today, you are formally submitting your 30 days notice, should suffice.It's up to you whether you want to tell them why, but I have a feeling they already know.

The tenants don't have any formal lease and are basically month to month.