Chapter 7, mediation, appealing denials, etc.Borrower has offered to pay $700/mo, which is 50% of thier income.

Having an attorney go over the operating agreement helps with both ensuring that it covers your specific situation and will also give you a mediator - saves a lot of drama and helps in forming a fair document that reduces conflict.

Their agent told me(listing agent) that if seller doesn't sign the release of EM to buyer, it will cost them a lot of time and headache while it goes to mediation/court and they can not relist the property until this is resolved.

If you have to go to court, and they actually show up (unlikely as they don't have a case), the judge might ask you guys to see a mediator and come to a resolution before he makes a ruling.

Originally posted by @Wayne Brooks:@Chris DeSisto As I suspected.....”equity” is not required to have an “equitable interest”.....that would be determined by the exact type of contract, and state laws. well if this is hypothetical  because 99% of those on BP will never see the inside of a courtroom other than eviction hearings.Its up to a Trier of fact.. be it Judge or mandatory mediation.. one judge may think 100 bucks is enough another might think you need 10k etc etc. although with the deal you presented i not sure why anyone would do that.. its  a loser .. monetarily.

The judge has asked her to pay what she is owed to us and then will proceed to mediation for her concerns of repairs, etc.  

It had to prove to the mediation that agent actually produced a buyer earlier.

We are toying with the idea of asking for a couple grand off the purchase amount to help mediate the water problems.Would love to hear from the wiser and more experienced. 

Couldn't pay me enough to have to be their mediator too.

I received a letter and had to go to mediation and was fined.