Next issue, you can assign your option for a fee, but you can not give a new option to buy that property because your option does not give you ownership rights to convey title, to do that you need to be in title, not just have an equitable interest under contract.

Technically, if a servicer has knowledge of an owner conveying any interest in violation of the trust agreement they would be in violation of their contractual obligations and oversight required by regulatory authorities.Bank of America here, under this regional managerial area, will call any loan due if they find there is any breach of the security agreement.

I tried to convey certain information, so that they can picture themselves in my shoes.

If applicable, the lender will also send an Act 91 Notice to the mortgagor. 4/8/2014 Act 6 and Act 91 Notices have expired - Lender refers account to Foreclosure attorney. 5/8/2014 Foreclosure attorney begins the legal process by filing a "Complaint" at the county courthouse. 6/23/2014 Mortgagor does not respond to the complaint a "Default Judgement" is entered. 6/25/2014 Sheriff’s office schedules a "Sheriff Sale" date. 7/25/2014 Notice of "Sheriff Sale" is sent to each mortgagor on the loan. 8/25/2014 "Sheriff Sale" is held. 8/27/2014 Sheriff prepares and records a deed conveying title to the purchaser.

A "wrap" is a financing arrangement, not necessarily a mortgage.An installment purchase agreement can wrap an existing mortgage.Old contract for deeds wrap the underlying mortgage.An installment purchase means the deed is given upon full payment of the financing arrangement.A Sub-2 conveys title, it still wraps the existing loan, it may or may not include additional equity.

A property may be sold subject to any lien or encumbrance by describing it in the deed of conveyance, a special warranty deed, unless state law prohibits transfer of title rights with outstand taxes due.If that is the case, you can enter into an installment sale if that is allowed in your state where you obtain equitable title but not legal title until the contract is fulfilled, look at a contract for deed or land contract, you need to see an attorney as you will probably have issues executing deeds under these contracts that circumvent foreclosure laws, you can do a contract without executing a quit claim deed and implement a different security agreement, so see an attorney.You could also use a lease-option, if that is appropriate for what you want to do, it would not be appropriate if you will be making repairs.Anyone can pay the taxes due

I would highly recommend going above and beyond from a due diligence perspective prior to purchasing.Also,I dont believe they will convey title, even if they have it prepared, until you are paid off if you use the financing.

Since some people don't seem to read the lease carefully, I was planning to convey to them verbally, when they apply, that:1) If they decide they can't get along with one another three months into the lease and one wants to move out, everyone is still jointly and severally responsible for the rent, and everyone will be named on the eviction notice if they don't pay.2) They are renting as a unit regardless of the fact that they are not related/married, etc. and I am not going to allow them to subsitute a new person on the current lease partway through the lease.3) If someone moves out and sublets their room without telling me I will go ahead and file the 7 day notice.

Went to mortgage and conveyance office and pulled records.

Ever wonder how it is that we always convey "peace" upon someone via hellfire missiles?