Originally posted by @Charles Holder:@Susan WangI believe this is the same as an option period.Yes it is the same idea! 

The mortgage holder for the two I own in my name will not let me change ownership to the LLC. 

@Taylor L.Actually you do not need a custodian with the Solo 401k plan, it is not required unlike with SD IRA. 401k plan/trust can be setup with account holder being the trustee/plan administrator thus eliminating a middle man (custodian) and all related fees that come with it, not to mention red tape, delays and inconvenience. 

@Justin SchaeferThen it sounds like your question is really about the servicer, NOT the holder of the Note. 

I had a blank "hard Money" mortgage form in my computer from a few years ago that favored the mortgage holder in event of foreclosure but can't seem to find it...

In 2015 I was contacted to participate in a short sale as the second lien holder, but the agent could never get the deal done. 

The option agreement isn't a contract to buy, it's a contract that gives the holder the right to buy. 

@Natasha Berness sounds like it is second home, and you are leaving back to Northern California which if it's something that needs to happen that was unexpected you can contact your loan holder and see about talking with them to convert it.

It's for the bank/mortgage holder to protect them in case of default or foreclosure.Fannie and Freddie aren't "partners" in your investments.

At least in NJ and I think its similar around the country, there is a 2yr Redemption Period whereupon the owner can "redeem" the tax certificate by paying the holder, i.e. the person who bought the 'tax sale' (I forgot the technical name), the required principal and interest.