We tried to sell that one ourselves for months, no takers, but then listed it with an agent and sold it in a week at a higher price (although slightly less net), buyers from out of state that used to live on a major highway so they thought it was an improvement.

The economy in Hamilton is not all that great, but it is close to all major highways and trains, therefore people will live and commute.

Outstanding advice from Allen!

Rate and term applies when there is an existing mortgage and you are not looking to borrow more than the outstanding loan balance; you are simply looking for a new interest rate or new term for the payback period.

This means that there is an outstanding mortgage on it.

Insurance say 125.00 mo Decent location in NJ close to all highways.

I was told ideally they want it paid off every year, but was also told they would willing to take payments on it monthly as long as I paid all outstanding interest monthly and paid a rate equal to a 15 year amortization.

But, if the borrower give you a deed in lieu of foreclosure for all amount due and outstanding, you will own it and can rent it.You need to speak to your attorney before you try and buy any note.

The property must be sold through a realtor at {fair} market value {no fire sales}.Proceeds of sale go to the owner - and are garnished for the amount outstanding to the lender.

Another friend spent 13 hours stuck in his car on the highway, and final abandoned it, hopped a barrier and walked to a nearby Home Depot that stayed open 24 hours to give people shelter when they couldn't get home.