Out of curiosity, how did you originally finance the properties if they are negatively cash flowing?

If was originated as owner occupied in the past and no longer is owner, if you have change of name on deed or insurance, if impound had a dispute, claims - are a couple reasons why the servicing changes.

Hi Everyone,I’m Wesley, a 57-year-old entrepreneur originally from Brazil.

Originally posted by @Lourdes Caballero:@Ahmad Williams did you finish the course?

Unlike a foreclosure, a deed in lieu of foreclosure does not extinguish any of the liens and encumbrances affecting the property.Most courts recognize the execution of a deed in lieu of foreclosure in a transaction subsequent to the original mortgage transaction as a legitimate alternative to foreclosure proceedings.

Originally posted by @Jim Y.

In response to your original question, closing agents should handle private loans just like a bank loan. 

I see the original post was made almost 3 years ago, so I’m definitely curious how your perspective might have evolved given the market’s ups and downs since then.

My original SFR was 1100sf and I added 2 units: an 800sf SB9 unit and a 750sf ADU (converted garage plus addition).

Thanks,James The only reason you could not keep the HELOC open is if there is something in your original loan documents saying the loan would close once it was not your primary home anymore.