I don't see how we could possibly give step by step details not knowing the situation and even then, taking you through the valuation to make an offer, making an offer, contracting, title requirements, marketing to your buyer, contracting again, and getting to settlements just can't be done in a forum.

Not a title issue as much as the title insurance covering the settlement and closing agent, any real lender will require an insured closing letter issued by the title insurance company covering the actions of that agent.

Lump sum settlements expected would not be a qualifying income.Other income expected to be received within 6 months from a reasonable source or future employer may be included if such income is from some line of work that has been accomplished by the borrower within the past 24 months and a history of such work for more than 3 years.

If the parties agree and are guided to a settlement at some point, then all is good, that's what sale agreements do....guide the parties to a settlement transaction.Usually not an issue, but in your case you are attempting to terminate the agreement based on lack of performance by an optionee, that could be a different matter.

I'm going to ask to see the HUD-1 at least a few days before settlement date.Thanks for your reply!

The transaction strategies, structures and settlement processes can vary significantly from state to state, county to county or even town to town.

And that I can show you the separate settlement statements for purchase and refi to show you can do and can do it in less than 6 mos.

A page that illustrates what the transaction is all about.PAR Value, the remaing principal and accrued interest together with any other outstanding amounts due; the amount shown on the day of the transaction.Settlement Statement of Note PurchaseSettlement Date May 24, 2013Subject Note: That certain promissory note made on the 12th day of June, 2009, in the original principal amount of $25,000.00 bearing interest at ten per cent per annum with monthly payments required in the amount of $330.38 with payments beginning on the 1st day of July, 2009, payable to Joseph Nogood as the holder, secured by property described as 1992 Moneypit Mobile Home, Serial Bumber 19925495-032 secured by Missouri title.PAR VALUE $20,215.63DISCOUNT 20% 4,043.13Purchase 16,172.50The undersigned acknowledge that this statement reflects the true amounts indicated and the basis for the agreements made by and between the undersigned in connection with the note purchase transaction described, the date first appearing above.Thus Agreed:_____________________ ______________________ Joseph Nogood Sam AllsmilesI just cranked this out as an example, for some kind of settlement statement or accounting of what you're doing.

The book states as follows:"The Real Estate Settlement Procedures Act (RESPA) requires lenders and mortgage brokers to give you this booklet within three days of applying for a mortgage loan.

I am in the process of refinancing properties in which we were both named on the note; the new loan will 'remove' his name from the loan and I keep ownership, per our divorce settlement.