Paying off a 1st lien holder, should have no impact on the 2nd, in fact, they would be happier and feel more secure knowing that they were the only lien.  

The voucher holder will provide you with the paperwork you need to fill out once an agreement to rent has been made.  

Those properties are generally still occupied by the mortgage holder.

When I foreclose as a mortgage holder and it sells to a 3rd party, the first thing I do is cancel insurance and the property preservation, IF it is a 24 hour full purchase price payment requirement. 

My advice would be to speak to your current first mortgage holder and if that doesn't work to do a cash out on your first mortgage.

@George Frye I started marketing to residential note holders about 18 months ago or so.  

Keep that in mind when submitting under an LLC, as you'd want to make sure that the majority holder is the one with the better FiCo.There are also other ways of borrowing outside of conventional lending, provided this property is NOO and will be used for investment purposes.

Instead, I advocate "bird-dogging" or 'finding' individual note holders and then referring them to high-volume note buyers.

I’m definitely a buy and holder trying to kick start my portfolio.

He advised I do that over an actual "escrow " account because of issues with tenants going to a third party escrow account holder and deceiving the account holder into paying them the escrow without the landlord being aware...