Any other equity would go towards the expenses due and you as the former deed holder would get the balance of the equity depending on the price paid at the foreclosure sale. * Note * In a foreclosure due to your default…your lack of being responsible for the monthly payments would leave a negative entry on the Seller’s credit report for 10 years.

carrying all that on their balance sheet is very nice. sounds like it worked out. keep that relationships that's hard to find. 

Detroit has the the highest rent to price ratio in the country…and we’ve found the perfect balance of price/location within the area.Here is a picture of my portfolio...

Basically, you're given a bridge-loan up to 75% of the value of your current home (the one you're selling) minus the first mortgage balance.

I myself is still looking for a good lender with balanced rates and fair fees. 

Climate control NRSF is typically between 2-5 fpp; while the non climate control old outdated facilities make up the balance (7-10 fpp) and tip the scales well beyond the 7’ pp rule of thumb. 

If that is the case, we would have to discuss your offer and the remaining principal balance on the loan.

On the balance, it is better to rent M2M in that situation. 

The same lender said if they could come up with the other 5% they can go 30 year fixed interest only..This is more attractive for cash flow on a higher loan balance but will still be qualified based on the fully amortized rate and payment. 

We paper them differently and have numerous disclosures and checks and balances in place to ensure the deal is as risk free as currently possible.I agree the gurus are soiling this industry quite a bit.