This essentially will have you declared by court order to be the owner of the property and will allow you to get a warranty deed. 

What are the ramifications should you own the note, aren't able to modify it/get it performing again, can't get the deed in lieu, only left with starting the foreclosure process, and during the process the occupant declares bankruptcy?

What are the ramifications should you own the note, aren't able to modify it/get it performing again, can't get the deed in lieu, only left with starting the foreclosure process, and during the process the occupant declares bankruptcy?

You better be learning your state statute because it declares what is legal and what is not.

To be clear, I am not a fan of theirs, particularly after they started muscling in on short sales, but they are legit. 

The United States District Court for the Western District of Kentucky issued an order declaring Kentucky's so-called "turf state" laws unconstitutional.

You would have to declared this at the beginning of the year to use it to file it on your taxes this year though.

For employee deferrals, you can contribute up to $18,000 of your declared income ($24K if you are age 50 or older), which would be the net operating income less the full 15.3% of employer and employee self-employment taxes.  

State laws have set price increases at 10% over market, most of these kick in during declared emergencies, especially for necessary items.

http://www.pressofatlanticcity.com/news/court-strikes-down-hamilton-licensing-fee-for-apartments/article_3092de90-3fc0-11e5-b921-e36a0670ed66.htmlhttp://portsmouth-dailytimes.com/news/2750/the-original-portsmouth-licensing-fee-declared-unconstitutional