Flaunt whatcha got.

@Donny Widjaja  since your being asked to just loan enough money to make payments on the existing first mortgage . you would simply be doing a unsecured Promissory note.Although not tagged to a property there is no defense for non payment and a judgement is easily gotten ... caveat is that this person actually has some assets which sounds like he probably does not since he needs to borrow from you to make payments .unsecured prom notes to a very qualified a borrower are fine.. second loans behind construction loans are not are not advisable in any scenario and can very well be a event of default on the first loan.

These were recorded by the local municipality initiated by the lender and I was sent copies after the recording.This is a definition snippet of steps when paying off a mortgage and how to mark paid in full on a promissory note that I found (full text here) http://smallbusiness.chron.com/mark-paid-full-prom...Step5 - Mail the original promissory note to the borrower.

Michael is unethical and dishonest, end of story.Please see this thread to assuage any doubts as to this reality:https://www.biggerpockets.com/...Few things in this world upset me more than scammers, thieves, and liars; especially ones who flaunt their self-proclaimed piety to extent that Michael repeatedly has on his podcast.Micahel is a con. 

I hope this doesn't look like I'm flaunting my situation, though I am grateful, I instead hope this makes my situation more clear so others can offer more tailored advice. 

you should spend an hour with an attorney.. so you get it right.its pretty basic in CA  Deed of trust and Prom note..

But a "set it and forget it" property is a pretty nice prom date. 

You could probably cut a deal with them with a prom note in the future if they have nothing.

Flaunt your pre-approval letter, go see a few properties, and develop confidence in your own judgement...until then most agents will keep you in the MLS auto-search purgatory until you prove yourself.

@Wayne Brooks  we always have defined release clauses in the prom note.. however I suspect most dont know to ask..