Turned out he was more concerned about the public being safeguarded and properly represented.

We no longer work directly for B of A as they just sold their field services division to Safeguard Properties.

Anyone who has used a VA in a capacity wherein the VA needed access to sensitive information, how do you safeguard yourself?

They could rule either way though I'm sure, but at least it's an option.Also, what type of language should I tell the attorney to write in the promissory note or deed of trust to safeguard me against the lender going into bankruptcy?

There are still those who think they can sell-finance-foreclose and repeat, loan servicing is the safeguard against the scammers. :)

Maybe one of our attorneys will chime in on the matter.Dion has a good post, had to take a break while reading it all, (LOL) but he made some good points about notes generally.Bottom line, buying notes as a means to acquire and keep or profit from any collateral is not a good idea, it's a guru scheme and can get you in hot water.A lender has the right to make repairs and an obligation to safeguard the collateral to protect their interest, they don't have any right to build a new addition to attempt to increase any profit.

The due-on-sale does not apply to junior lien holders, The bank does not have to allow you to assume the note, it is a violation of the first deed of trust.In your case you can foreclose ask the trustee to bid amounts sufficient to pay all liens and pay them from sale in priority, look at your deed of trust and rights to pay liens and include funds expensed to safeguard your interests.

Also you are missing out on a lot of safeguards put in place by lenders with paying all cash.

FCRABy 2003 more were added:The Red Flag Rule (not fully adapted until Jan 2010)The Safeguards RuleThe Disposal ActEven later:Privacy?

I foresee that eventually some platforms may allow non-experienced operators as well, though those deals will be underwritten differently and will require more safeguards and, in the case of debt financing, higher rates.