Servicers take collateral and sell it, such as with a deed in lieu if the note holder accepted or approved it, it could also have been a note purchase by the servicer. lots of options

Also, if it's in bankruptcy is the property going to be owned by the lien holders if it's not settled.I've been tracking a property adjacent to mine which has been in bankruptcy for 2+ years and will eventually go to the county for a tax sale.

For example: The 1st lien holder if filing foreclosure and was first lien recorded.

And with an option the option holder always has the choice to let it expire unexercised.

The law says that you can not be enriched by your own criminal actions, so the insurance paid off the mortgage holder(s) but not the owner.

I have seen situations in CO where the owner did not file a notice of intent to cure at least 15 days prior to the sale, the foreclosing lien holder refused to delay the sale, and the owner had to go to the sale and bid on the property.

Then what you should sell for-minus-what your "finder's fee is" = reasonable amount to offer current owner.It's my understanding that working from the bottom up by placing a contract on something then trying to mark it up and sell it to a flipper/buy and holder will not pan out for you, the current owner, or your prospective buyers.Check out the blog post below for a good overview of the process, but I would suggest listening to the podcast too for some really great insights on how a possible wholesaling operation might work.

It may be that there's a 99% chance the seller, later as note holder (or their heirs) come back to the well and this is where you have a superior opportunity to negotiate an early payoff or different terms.

The credit part is difficult due to only being issued a $1500 limit on my Visa card less than a year ago, and being unable to get a store credit yard, such as a home depot card, due to a low credit score.

You ARE a disqualified party vis-à-vis your Parent-in-Law's qualified retirement account, and she cannot invest with you or any entity that you own 10% of.