Then determine what the principal balance would be at the time of sale.

@Jon AndersonI'm not saying the people who PM'ed you are not offering you good deals (I have no idea) but I would say, get close to principal players.

You could use to mimic the principal paydown of a wraparound mortgage buy giving your Buyer rent credits toward the purchase.Any advice or pitfalls I'm not seeing?

If she's eligible for the DOJ loan mod, they will even forgive additional principal to match the value of the home.The assets could hinder her ability at being approved, but since she is 27 months behind they will likely not request bank statements.

Now he isn't feeding this thing every month, and he still realizes some principal paydown and depreciation and interest deductions.You take on all the current leases and operating expenses.

I don't very often advise people to study real estate licensing education material, however doing so might help you see both the nature of a licensee's relationship as an agent working under a broker's license and the broker's relationship with principal currently if formerly under a listing contract.I'm not suggesting that you get your license, although you may find that something that is ultimately worthwhile in doing.

The type of Fraud are identified in the FNMA Selling Guide(1), page 134, which include:...misrepresentation of occupancyOn page 1167, Verification of Owner-Occupancy, does indeed spell out post-closing review guidelines.As a practical matter, Fannie Mae form 3034 (Uniform deed of Trust) requires the occupancy of the property as borrowers principal residence for "at least one year after date of occupancy."

What you can do is go back to the Seller, since he is the principal party and review the current contract with him.

You'll have a contract, be very careful not to agree to do anything illegal in your contract that could void the deal.My prescription for a cheat is to give them enough rope to hang themselves.You can state that "the buyer shall not have any obligation to report any principal or interest payment made to the seller, nor shall the borrower deduct any interest payment for tax purposes" All true.

We made a large principal payment to get our LTV to just under 80% and asked Wells Fargo to remove the PMI.