@Valeria Valdes, to the best of my knowledge the REO Bank can't come after any outstanding mortgage beyond the price that they agree to sell their property.

Amortization is simple.....you pay interest on the outstanding balance owed, period.  

Outstanding to set a goal and accomplish it!  

The home has WELL over $500,000.00 in outstanding debt that would have to be satisfied in order to gain clear title. 

 $100/door with a DP of $500 in the midwest sounds outstanding.    

outstanding, the work looks great.

Reconciliation of a bank account is from the total outstanding drafts, deposits and disbursements with fees and interest, done as one account. 

Choosing this route requires the mortgagor participate in each step of the lawsuit and can result in a huge legal bill in addition to the outstanding mortgage costs.  

The numbers first:Purchase Price: $430,000 (Auction) (3 Normal Bed, 1 Master, 2 Full Baths, 1 Master Bath, Pool, Cathedral Living Room Ceiling, Attached 2 car Garage, Swimming Pool, 3500sqft on 1 acre)Outstanding Town Liens: $94,000 (I knew this as this was announced at auction.

A large bridge loan can be used to pay off all outstanding debts and liens on a property, essentially consolidating the existing debt in one provider prior to a secondary transaction.