The foreclosed amount is usually what the debtor owed + foreclosure fees and costs.

Also, home equity loans have to be used for home improvements and secured by the house (no loan consolidations or purchasing a car) in 2018.I may have not answered directly but I think the refinance play would be desirable if you would want to cash out refi to consolidate debt or fund another purchase.

Also would be good to find projects using no debt or non recourse debt.

If the creditor has reason to believe that the debtor can or will pay at some future date, they'll just leave the judgment.

Unenforceable as a mortgage or secured debt or as an obligation, even an IOU, an acknowledged debt can be enforced, so I assume due to it being a mortgage.

If you don't have the capital to tie the property up with an earnest money deposit, your chances of obtaining the capital either as debt or equity to complete the purchase are about 0.

You might want to consider your preference for (and ask the relative if they prefer) debt or equity. 

You can beat Fundrise by analyzing and investing in a Private REIT focused on income replacement, or you can provide debt or equity financing on a flip and potentially get 8-12 (debt) 10-20% (equity) APR, but you'll have to immerse yourself in the world of real estate investing and work with only the best people.

That would reduce your debt.  Or

The debt partner is not a partner either relative to the debt or the equity – he did not have to sign onto the bank debt, nor is he responsible for it.