I have long advocated informing the lender in all installment contracts, wraps and sub-2 transactions.As John mentioned, a properly given notice will keep them from saying they didn't know but more importantly, after a period of time and if a formal objection is not made or notice to accelrate the loan is not made, that may be construed as acceptance of the deal!

If you can grasp these principles, you may be on the top, even when the bottom falls out from under the others.

I re-fi'd him at an extra 1/2%/month, and rolled his closing costs and missed two months onto the principle.

BSO stands for Bright Shiny Objects.They chase the next shiny object they see.If you want to get your business going, you have to seek out the REAL investors, the ones that have been around and know this is the time to buy!

Your situation does not seem that complicated, but there are not enough details in your post to really understand where your parents are at, why they did what they did, what your parents goals and objectives are, etc.

If you were not focused on helping this lady you could find a property deal.There are ways to combined the two objectives.

In more than one case an eviction was thrown out by the judge when the tenant objected to having to do all the repairs.

I'm skeptical, but that's because I don't want to get burned, plus when it comes to money I'm just really cautious regardless of the amount.One more general question (for now) - if I do approach a bank to purchase a home that has been foreclosed, will I have much success making an offer that matches the principle remaining, or do I need to make an offer somewhere between the estimated (appraised) value and the principle that remained on the loan?

I objected, and called the office.

A set of principles of right conduct. b.