In an LLC, the members (interest holders) are liable up to their investment in the LLC, unless the entity veil is pierced--which leads to personal liability.

(Going a step further, imagine a partitioned note with a part of the obligation being assigned to each cell member, either as a borrower or as a note holder)Now for the guts of it:You have 135K note that was made in the past, it is already in its amortized period.

Thoughts from a buy and holder :)  

There's really no such thing as removing the unit from the voucher program - once the Section 8 voucher holder moves out, you are free to rent to a market rate tenant (subject of course to Fair Housing regs).

They have 7 years to refinance the property and cash out the mortgage holder, so they are gambling that prices will be back up in 7 years so the property will appraise for 235k and they will clean up their credit so they can qualify for a loan.

Several people have asked me about self directed IRAs, how they work, how to set them up, and the do's and dont's so I thought a post on the subject was in order as to not hijack Rich's thread.There are currently over 45 million IRA holders in the US and steadily climbing, but less than 4% of them are self-directed.

Surely they took the cheaper way out and simply rebuilt the house.Perhaps they simply give the policy holder the option, especially if the alternative is less money.

I ended up buying from other lien holders which makes it much easier and less time consuming.

The bank usually ignores the secondary mortgage holder as long as the primary is being paid.    

Yeah, pay them but, do your own research and make your own conclusions.3) I haven't but, I know many that have and I've gone to sale with my junior lien and had someone bid thinking they were getting it from the senior lien holder.