As Jim pointed out, every REO I've run into will not let you assign the contract, so its double close, buy it yourself, or take the risk of birddogging it.

Jim,Really great post.

In fact, I will be attending his anti-real estate seminar this November, the "Palm Beach Experience," where I will meet and interact with such great people like Robyn Thompson, Jim Toner, David Dweck, Sharon & Juan Restrepo, Sherman Ragland, Mark Evans, Doug Doebler, Curtis Brooks, Bruce Ridings, Ramon Williamson, Mike Litman, Yanik Silver, and Kendra Todd (just to name a few).If you have any questions that you want me to pass on, let me know, and I'll ask, then post the answers back here!

As Jim notes she will need to speak with an attorney.She might benefit from declaring him dead but that will take a while to accomplish.

Make sure to spend some time in the foreclosures forums . . . there is so much info to learn there.One of our site's contributors, Jim Watkins, wrote an article you should read on our blog today . . . thought you might want to check it out:Buying at the Foreclosure Auction: Beware of Occupied Homes - A Horror Story that Could be YOU!

If you borrow money from me and then loan it to Jim with a deed of trust and you assign that to me as collateral...or make the loan in my name and do the loan functions, you are brokering and if you are not have the proper license, the loan you created was originated illegally and can be found to be unenforceable for the collection of the debt created.

Jon,-mini storage on east side of the bayThat sounds very familiar, are you associated with Jim Flint?

Jim Johnson gave you great advice, and I wish you good luck and don't worry about people that danced around your question.

Thanks,Jim

@Jim Delany Great.