Make sure your friend does the settlement at a title or escrow company and gets buyers title insurance.

After mediation, a settlement was reached.

. :)I thinking those that don't loan are looking at the time in title not under contract, even if one did, another contract can be made.Standard contracts provide for possession prior to closing, rents to settlement dates, and a closing set within six months won't be a problem in most places.

My realtor got keys at settlement and drove them over to the prop mgmt company I had selected beforehand.

I have another property (investment property) in Maryland under contract, however the settlement date for this is May 20, 2013 (I have already moved out the settlement date once - earlier it was April 20, 2012).

Hello BP-I'm getting ready to close on a HUD house with some settlement issues.

@Bill Gulley Could i get a get and investor to settle the estate and do a side deal with son for $40kThis is what I was thinking:Find soft money for the settlement of the estate $60KHave the investor put a lein on the property for $60K at 12% over 2 years. (67200)Have a contract with the estate for $40k @ 5% (42000) $42k+$67200= $109,200Lease Purchase for $135,000 for the same to 2 years.My out would be to refi the house and hold it as a rental property.Flat interest all the way.

The settlement agent or title company usually gets that and they are in the best position to get with the Trustee named in the Deed of Trust, with HML it's likely it's a local attorney...my guess it would be.If they can't get a payoff, you may need to find the new note holder.

When you purchase a property you may receive a credit in the transaction by the settlement agent and those amounts need to be set aside by the new owner.All of this really doesn't apply to the OP's situation.If you hired that individual in his company, basing your hiring on his expertise and personal attention, you can probably terminate the agreement for his services and receive all the funds back that are unearned to date, together with all escrowed funds, you need to read your agreement.

RESPA provides that, "No person shall give and no person shall accept any fee, kickback, or thing of value pursuant to any agreement or understanding, oral or otherwise, that business incident to or a part of a real estate settlement service involving a federally related mortgage loan shall be referred to any person." 6 Most loans are "federally related" because that includes not only loans made by federally insured lenders (almost all banks are insured by the FDIC), but also loans intended to be sold to a federal institution such as Freddie Mac or Fannie Mae.This prohibition applies to both licensees and laypersons.