Thus the more blunt instrument approach of using an IRR calculation and comparing it to one's cost of capital seems like a more logical approach to me.To each his own.

You will pay a modification or assumption recording fees linking the already recorded instrument to you as a borrower.

my son in law got ours going on the X and because all the doors and trunk are controlled .. its pretty fun to watch it play its tune  all the doors moving on their own lights flashing music blaring.. now what car can do that ?  

It's market is extremely active and will remain so for a little while longer; the solidity is grounded in geographic location, climate, diverse employment base (ever expanding), higher education, hospitality/tourism, music and entertainment, the list goes on and on.

@Arthur VoskanyanIn these parts, a home equity loan is generally another term for home equity line of credit, but YMMV.It sounds like you are comparing a fixed term, fixed rate loan - ostensibly secured by a mortgage - to a HELoC.The are two different instruments which serve different purposes ... some of the differences are:Mortgage secured financing:entire amount being withdrawn is advanced at once and repayment is amortized over a specific period (typically 25yrs in Canada, 30yrs in the U.S.A. for residential financing).the term of the loan may be the same as the amortization (common in the U.S.A.), or may be shorter (anywhere from 6-months to 10years in Canada).the interest rate of the loan may be at a fixed for the entire term of the loan or may be variable.there may be limits on prepayment of the loan (without penalty).    

I then take it to my title company (the owner of the title company is an attorney) and have them construct the instrument that we are using and the note. 

Either of these instruments give you some protection.

My thought based on the players I've been around is while you have the headphones on...be listening to something worthwhile like the BP podcasts and less music. 

BP has been somewhat instrumental in promoting "wholesaling" but unfortunately, very few people seem to be concerned with the laws, and sadly, even fewer are concerned with people screwing over sellers.

Once the music stops, company has no incentive to do buyback and more focus on real fundamental to create cash-flow/divident to the investor.