The restriction requires that you as the buyer has "skin in the game" to ensure that the 1st lien holder is not the only one at risk.  

@Eric Odum I completely agree, it's very advantageous for us buy & holders.  

And it's not because i'm any good at my job, just because the rules allow me to do so.Death of all obligors - Can file NOD provided there are no legitimate successors prior to 120 days.Loan made to a non natural entity - Can file the NOD without the 120 day ruleIlegal transfer of ownership - Can exempt you from the 120 day rule.Senior or subordinate lien holder is already in foreclosure, lien holder can join and file NOD prior to 120 even if their loan is current.

More and More Banks and other mortgage holders are marketing their REO's and other foreclosure properties as close to market prices as they can get and its proving harder and harder to find great deals.

Maybe your buyers will be thrilled to have a newly constructed building but the banks and other lenders which will be the mortgage holders will not care and not lend anymore money on your new construction as they will for much older homes.

I went to a REIA meeting tonight and was talking to one of the very well established landlords there. His statement to me (Along with several others) has been to stay away from duplexes and triplexes and concentrate p...

You may not like the Trustee, but s/he has an obligation to you in acting in that matter, ask them the best course of action and yes, you may need to pay for additional consultation, or ask your attorney if you'd rather not deal with the Trustee, the Trustee can also be changed by the note holder with the stroke of a pen. 

The accompanying image highlights the most aggressive Housing Voucher rents that an investor can obtain for properties purchased in a sampling of these Chicagoland suburban area.Investors, or want-to-be investors, can greatly leverage their investment dollars buy targeting purchases in the suburban areas where the average purchase price for a single family home is more attractive, since they will command the same amount of rent (i.e. a 4BR house rent for $2,175, under the Sec. 8 Housing Voucher program).And, if you're a Section 8 Voucher Holder, would you rather rent that 4BR house in a $1,200,000 property or pay that same amount of rent in a 4BR house of a $75,000 property?

One, see if you can have her add you to the deed without the current mortgage holder be tempted to call in the loan.

Title co's don't pay "judgment option" holders, and judgment holders don't give options.