Gross proceeds means any cash received or to be received for the real property by or on behalf of the transferor, including the stated principal amount of a note payable to or for the benefit of the transferor and including a note or mortgage paid off at settlement."

I am currently invested in two 200+ units apartments as a passive investor and I am leaning toward becoming a co-sponsor or a key principal going forward.My $.02Nick

We applied that same principal to funding our repair.

We started with a 12-month forbearance period and then reduced their principal balance by over $100,000 and lowered their monthly payment to only $679 for 15 years.

Not being a principal residence I don't think it's protected by homestead rules.If you buy, be very sure who's doing the foreclosureZ

Based on the tone of your post, it sounds like the HOA is having financial difficulty and that may or may not change your strategy.On a side note, I do not believe your HOA will provide any details from the other claims, as that is not public information and should not be shared with parties who are not principal to the claims. 

It's really a no-brainer if you're throwing away money every month making somebody else rich.One thing to keep in mind when looking for an FHA owner-occupied triplex or fourplex is that 85% (75% in certain states) of the market rents on all the units need to cover your monthly payment (principal, interest, taxes, insurance, and mortgage insurance).

It's really a no-brainer if you're throwing away money every month making somebody else rich.One thing to keep in mind when looking for an FHA owner-occupied triplex or fourplex is that 85% (75% in certain states) of the market rents on all the units need to cover your monthly payment (principal, interest, taxes, insurance, and mortgage insurance).

If you have enough equity in the property, they may just be able to add the closing costs to the principal of the loan.

Principal or broker?