My husband and I are buy and holders in NJ and FL.

The most common way we document no property liens is to get a copy of the insurance declaration page, there will be a spot for lien holders.

Just because it's family doesn't mean other things can't happen where the loan could be examined and disqualified as an arm's length transaction.The note isn't filed, in the note stating the payee, you could say Mary Jane Smith and Tom Smith (H&W, Tom Smith brother of Holder) and I don't know if same names are involved or not, it's not necessary and it could draw other unwanted attention.

If the GC gets it, you need to be named (along with the mortgage holder) as additional insureds.You might also want to find a source for this type of policy.

I love the plan Brian offered to campaign for SDIRA holders to loan you money out of their funds.

@Kj Rustom, I think you should speak with any Solo 401k plan holder to get some feedback regardless of the location, it doesn't have to be someone in your local market.

Of course this is because I had to explain to them that they would be paying for the toilet repair when one of the kids put the toilet paper holder down the drain and stopped it up.

I'd suggest a private lender lending as a first position note holder.

As to cash funded notes or equity funded (seller financed) loans that are purchased to an extent, the note holder is only entitled to be indemnified to the extent of their financial interest, the UPB together with actual and allowable costs of collection, nothing more.

I work for a bank and during IRA training today it was briefly brought to our attention that the IRS waives its 10% premature penalty on a Traditional IRA distribution if that distribution is used for a first home purchase for the IRA holder.