Even though everything I know about a reverse mortgage comes from Robert Wagner’s 3am infomercials, with a well thought out financial plan in hand, it might be her best bet.I also appreciate the suggestion about bankruptcy Karen M..

With the crazy quilt of foreclosures, temporary restraining orders, bankruptcies, etc., the last thing a hard money lender wants is to have to try to foreclose on a property for non payment.

Borrower files for bankruptcy, later dies without a will....that will take a few months if not over a year.

Making money in real estate requires work and luck and even then is hard.3> Student loans aren't dischargeable in bankruptcy.

The U.S. unemployment rate soared to almost 10%, personal and business bankruptcies skyrocketed, real estate construction came to a halt, real estate foreclosures jumped to multi-decade highs, and real estate prices dropped by 50% in some areas of the country.

Valuations come up in bankruptcy as well, for buyer or seller, you clog that aspect up and your deal gets look at under a microscope.

Her bailout is bankruptcy.

She told me I will find she filed bankruptcy 4 years ago due to her son's medical bills and "the economy" but she has been in the same rental property in texas for 4 years and is "a great" tennant.

They might not agree and it still goes in front of the judge later or the tenant or landlord might say they do not want mediation but want to go in front of a judge to decide.If you do a written mediation agreement and tenant defaults then typically the court will grant eviction with a writ without going to court again.Mediation is kind of like people filing chapter 13 bankruptcy and agreeing to a workout plan. 90% of the time they do not finish the plan and fail.

It seems that a handful of investment properties were quit claimed from a bankruptcy trustee to this investor for pennies on the dollar.