I met him many times before awesome GUY but you can definitely tell the dude is the biggest slacker in the world (for example: if he knows that going the long way will benefit him greatly but will be hard in the process, but cutting through the backyard to avoid the long-distance of wearing will be better, he will most definitely take the short cut!

You want both of them to be real estate experts so the process will be smooth. 

So, he already had people & processes in place when he moved back to California and continued to DIY manage his rentals.- It's also interesting that he doesn't want to DIY manage anymore.

Most likely the new lender is going throught the foreclosure process and typically will end up taking the property back.The original posters chances of getting this property back now is slim to none as it will be sold at market value.  

I can walk you through one of our recent Equity Splits so that you can understand the process. 

Let me know if you have questions, I really went through and through the process on this deal. 

At the time, I was not going to say yes to that and I began the eviction process.

Was the process smooth, and did the property meet your expectations?

At it's basic level:Assumption: Asking the bank to turn the loan over to you and going through the normal underwriting process, credit, income, DTI ratio etc SubTo: Taking over the loan without telling the bank, no underwriting, no credit check, no income verificationBoth have risks, but it's not my intent to be detailed in this post.

The Role of Mortgage Brokers in Real Estate FinancingMortgage brokers act as intermediaries between you and lenders, streamlining the loan process while finding the best deals for your unique situation.