She will get each beneficiary to sign off on allowing this to happen, lessening their inheritance cash-wise but keeping the family in a home.My idea is that the trustee daughter could purchase the home, but could do so instead through a sort of owner-financing where the Trust finances the asset to her directly rather than buying it in full at great cost and taking out a mortgage on an already paid for property:- Property is in Trust and is fully paid off,- Trust finances the property to Trustee for closer to market value, and payment can still be set at 1500- No/less down payment required- Any interest rate, maybe 0- Tenant family makes rent payment of 1500, which pays off the property and pays into Trust- Beneficiaries' % share accrues gradually as payments are made- Set future balloon payment if necessary (if Balance required at a certain time, for college, etc.)This would decrease the out-of-pocket cost for the Trustee purchaser, and increase the amount that each beneficiary will receive (eventually).I have no Trust experience, though, and I'm hoping to hear from the experts.

That means shorter loan terms, higher qualification hurdles and floating rate or balloon components.

I find that part highly unusual and I wanted to make sure the way I read that was accurate.Chris I suspect Engelo was just asking for a POF  just like I ask from anyone trying to buy any of my properties be them wholesalers or buyers on my new construction we want to know they have the means to transact.. this is usually just a letter from their lender.

Send proper formal notices and letters when dealing with this kind of situation.

Also:Prepare and obtain signed and notarized estoppel letters from every tenant attesting to: lease start and end dates, rent payment amount, security deposit paid, any verbal agreements made with landlord, any maintenance/repairs requested but not yet addressed by landlord, etc.Why?

We have to have a pump out reported to the town every 3 years and if they don't send in the paperwork you get letters from the town on violating the ordinance. 

The other does 20 year Am/5 year balloon at 5.25%.

This one is appropriate to leave for last, both because it is not all the full-featured and because it starts with the letter Z.

Several weeks after sale,  out of the blue I received a letter form a creditor that there was a lien for $600 on the property PRIOR to the sale, that the builder never paid and now they are going to put a lien on the property against my name.

New dates on letters delivered to the door, certified mail, etc.