The good news is that it does not cost you as the note holder anything!

The cream-holders who are now flat busted WILL be saved from the world of we minions, I assure you...

Make him keep explaining until you understand it.A real possibility, because you are not on the mortgage, is to simply inform the bank that the mortgage holder is deceased and sign the house back to them in what is called "in lieu of" meaning in lieu of foreclosure.

If you sell the home, you should transfer the title and become a lien holder.

the note holder was a widow..her husband was the investor and it was her last note..she was well off and just didn't had the energy for it..just developed a rapport and she told me "you remind me of my husband when he was young"..funny story..she had me call her accountant to work out the details and that guy has referred me 2 short sales!

They have essentially no value because, as you note, the house is worth less than the balance on the first.The holder of the second could sell it.

Here's wishing everyone a good day with loved ones and family, and way too much delicious food.

Those two avenues can allow for an easier entrance for someone with limited funds.As a buy and holder, I strongly urge you to avoid hard money loans.

Please contact me at 414 795 3229or send me an emailIf your still looking for quoteI like to talk with Note Holders 1 on 1 versus indirect quotesRamon

Subordinate lien holders have a cap of $3000 2.