They were win win deals for both parties.  

IE- you may have a hard time finding the bank to actually offer to, and when you do, depending on that bank, they may forward you to their REO broker working on their behalf.2-Assignment of the Mortgage- again, just because it says Bank of America, it could have been sold to a 3rd party, whether it be a private equity firm, small investor, or another bank, and that assignment may not yet have been recorded. 

The evaluation of the asset that is pledged can vary according to each of the parties involved.  

The next build up I think is going to be behind the MotorCity Casino. 

Lets just say I am VERY tempted to charge a $50 fee per person JUST to get interested only parties!

All third party money will have strings attached to it so really it isn't cash but a loan plain and simple.

There is no issue with giving a past owner an option to repurchase that I'm aware of in our area, a lease-option cam have a different flavor, so check with a local attorney.The option could be made with a third party who in turn agrees to sell back to the original owner, I think adding a buffer or strawman would clog any path back to you if you're not a party to that end transaction, you'd be letting someone to act as a wholesaler or buyer/flipper.

A "Short Sale" is 'selling' the property, a new party takes title, and the Mortgagee taking less than what is due.  

It provided a level of comfort for all parties.  

Totally forgot about the title/attorney part.  I