So, your parents filed bankruptcy and stiffed their creditors because they couldn't afford to pay for health care?

you should check to make sure that any information older than 3 years that is unfavorable is deleted from your credit report (except certain items like bankruptcies)Applying too frequently for credit can also hurt your score

The trim, interior doors, hardware, cabinets, roofing and windows are at a steep discount because they are all canceled orders from people who declared bankruptcy and didn't pay.

What happens if one of you becomes incapacitated, dies, takes bankruptcy or other things in life happen.....have you addressed those issues?

Appears they themselves filed for bankruptcy a while back.

Some general feedback on your list:Copy of Collateral File - mortgage/deed of trust, note, modifications, forbearance, title policy, assignment chain (if not recorded)Copy of Credit File - Origination documents - includes 1003, disclosures, credit reports and HUD - these are not always present in institutional files, their absence does not negative your enforcement capacity.Copy of Servicing File - payment history, servicing notes, etcCopy of Legal File - foreclosure, bankruptcy (if present)Property value through a BPO or similar report will be your responsibility.

Leverage + Unsustainable debt = bankruptcy.

People get divorced, die, become incapacitated, take bankruptcy, get sued as well as other events in life that can have an effect on thier position as a note holder, being in a first and second position can casue further problems, and in turn may cause a problem for you as well. b.

Can someone tell me if a creditor (lender) files a Motion for Relief From Stay in a bankruptcy, does that mean the debtor (property owner) is now liable again for the debt (credit being further damaged, lender still attempting contact with debtor, etc.)?

I can introduce you to him if you're interested in learning about real estate investment and bankruptcy laws.Congrats on finding a real estate goldmine website.