,Ask your attorney which is cheaper, hiring a professional to address the problem or defend a lawsuit filed by the tenant.Another consideration, what if the place blows up and someone or someones loose their life.

In judicial states, the foreclosure case can be defended in court while simultaneously negotiating a loan modification with the bank.

Actions define the application of the law.Of most importance, can you afford to defend yourself in a lawsuit should a seller, buyer, licensed real estate agent, real estate company, lender, local government agency, or a state government agency sue you for your actions?

If the file ever came to proceeding with foreclosure and the borrower decides to try and defend themselves these ideas can be used in his defense.

The grantee (buyer) may be responsible for title issues during their ownership, not having title insurance means you'll have to defend title, if a matter arises prior to your ownership, you will need to subrogate against other insurers, a David and Goliath position, getting past coverage to save yourself from any loss, the buck can stop with you if you warrant title.The heirs should be using a Special Warranty Deed excepting out their responsibilities to title allowing warranty from past ownership. :)    

The eviction notice also had a plaintiff name and a defendant name listed.

Matthew Terry here is the requirements for primary residency from IRS publication...trying to subvert that rule puts you in a risky situation that you do not want to have to defend.

:-)Just to defend myself, that was actually the official picture from my ESPN World Series of Poker television appearance...that photographer hadn't worked at Sears in over 2 years!!!

The collateral is worth 100K, the other 50K is outer space, not even blue sky, any discount starts there and a balloon requirement will make it worse as owner's equity is diminished or eliminated......unless that buyer is financially able to wright a check or pledge other assets to pay it off.I have also found that I get more prudent and better advice from attorneys who I don't have a personal relationship with as friends tend to stick their neck out a bit further in order to "help you", I can see the wheels turning, "oh, I can defend that matter for Bill" as opposed to doing things I don't have to defend.

Any lawyer involved by the buyer would list anyone involved in the sale, if the seller ate a Big Mac at the closing, the lawyer would probably list Mc D's as a defendant too.