One thing I found interesting was that the taxpayer is in Texas, but the rental liscense holder for the property is only a couple miles away.

I know this question will very state to state but I just got stumped with a question about listing the property prior to owning it OR DURRING THE NEGOTIATION PROCESS.. “ You can’t legally list the property being just the contract holder, you must own the property firstâ€.

The borrower may have had late payments BUT, it is still owned by the bank (NOTE HOLDER) and they are not YET at foreclosure sale!

When the redemption period ends, the holder of the lien can start foreclosure proceedings.

What you have to worry about is the lien holder...

You do a note and the note holder becomes incapacitated.

Might check if a lien holder holds title with a lien, some state do, some don't.

Once I become the holder of the fee simple title I; then, resell MY property using the same listing agent.

I'm working on short sale but the property has two mortgages, the second lien is a private holder that is not willing to make too much concession and want to protect their interest. have anyone deal with this issue.

Interesting article:http://www.cnbc.com/id/34877347I can't remember who but somebody at BiggerPockets called this in a thread about 2nd lien holders requiring outside closing payoffs.