What I don't care to become involved with is the unsecured or under secured paper that is becoming popular with some investors.

For instance, as we know, the second might become unsecured, so further pursuit of the debt can still take place but it will not be a secured collection attempt.  

It doesn't mean the grantee of the security deed is unsecured as the collateral is still encumbered by the prior deed of trust or mortgage.

Ken is in the loan compliance business and he also admits not being 100% on top of RE secured notes, I'm not 100% on top of all states nor unsecured lending as I use to be.

I'd think just getting a judgment on a note would not be that expensive, I'm sure banks seek deficiency judgments on unsecured and secured loans every day out there

The loan may be unenforceable or they may discharge it from the property but remain and unsecured loan, not sure.I suppose a Seller who originated a seller loan who did not comply with the rule could attempt to cure the defect, but it is a tricky concept.

I also have a unsecured business line and an unsecured personal line.

Unsecured lending.

They gave him unsecured credit in the form of multiple business credit cards...which made it very inquiry sensitive.When he got the cards in the mail, he thought it was a mistake.He was told to pay himself with the cards to get cash out. . . .

We buy unleveraged;will NOT buy broken condos or any property type not described here...