As long as it was originally issued under your name, it doesn't matter how the property is deeded, it matters what's on the lien instrument that is filed with the public records in the municipality the property is located in.

You may be able to create an instrument with your GPB that allows them to securitize it without cashing it out.Another out of the box idea would be to sell the house you're in now if you've lived in it for 2 out of the last 5.  

“These particular instruments of mass destruction, as Warren Buffet called them, no longer exist,” says Susan Wachter, a real estate and finance professor at the Wharton School who foresaw and warned about the looming disaster well before the collapse happened.http://time.com/money/4146436/the-big-short-could-...

Congrats on the deal.10% is better than some money market instruments

Newbie misconception.If the first (or a senior position) forecloses, the junior's right of redemption kicks in which says you can protect the interests granted by the security instrument and redeem (pay in full) the amount due to the first or senior lien holder.  

There can't be, each state in the union takes a different amount of time and expenses to enforce the remedies provided by the security instrument.  

If you are going to be in RE, you need to understand these instruments and develop an easily understood explanation for each paragraph.

@Gary Alford Buying free and clear properties when you buy on terms are generally installment salesA note and a security instrument like a deed of trust or a mortgage is customaryYou want to do a thorough inspection because you will be responsible for all maintenanceStructure the note to make sure you can afford all costsI generally open up an escrow account and place escrow instructions if I default on payments the owner can receive ownership of the property without a foreclosure after six days

You can't create a loss but it can certainly be instrumental in reducing/eliminating taxable 'profit'.

It would take 60 to 90 days to get your document back from the recorders office.You can sign the deed but getting it recorded was another thing.In Oregon we record same day and get recording numbers within 48 hours. there its 48 days or longer.. this lead to title companies having to give gap insurance. for instance what if some nefarious individual recorded something between the time you purchased and the totally inept wayne county recorder actually recorded your instrument.. you need title to fix it.