CEO Hank Amos said the forecast for the rest of the year is sunny.Amos called the past 10 years a “lost decade” with the real estate industry as a whole experiencing “no vitality, no velocity.”

They are taking over your loan as it is, no modifications, just a change in who the loan is paid by and the name on it.  

It reminds me of a note modification my dad did years ago.

As for your buddy, issues are bound to come up if your at it enough ( in my opinion) but like others have stated, screening is vital!

Something else is to speak with wholesalers, possibly find a mentor, learn vital skills to complete wholesale deals and use that as a way to build up your cash flow.

Another issue can be with contracting for repairs, obtaining permits, representation in legal aspects involving the property, obtaining special credits on assessments, such as a sewer going through.The concept could be followed with a modification that includes default aspects more like a deed of trust agreement.

Many banks have loan modifications going on, but from many conversations with a friend who works in loan mods at Chase, these programs are not designed to help investors.

I just got done with a drain modification required by the state on an existing pool this week.

., What are the property's/deal's vitals?  

I have a lot of ideas of how to spruce the place up but I'm going to need more time than just a quick walk through to figure out what needs to be fixed, updated and what types of modifications I want.