The seller wants to assign their performing land contract at 7.8% for the balance currently outstanding on the loan.  

Straight from Modern Real Estate Practices(the newest edition)"When a person purchases real state that has an outstanding mortgage or deed of trust the buyer may take the property in one of two ways.

So every regular checking deposit is swept towards your remaining balance, lowering your outstanding balance, and saving you interest cost.

Information on property finances are below.Duplex mortgage outstanding 175k on 3.75% over 25 years, 24 remaining. 

You can leave the loan outstanding and then when you die the death benefit of the policy will pay for it. 

He says the taxable fraction is determined based on the outstanding debt and the sales price (price when you sell, not buy).

Whether a house is occupied, or not, has No bearing on the new owner being responsible for the outstanding HOA debt. 

congrats Jake...i was following your post and for sure you did an outstanding job of being persistent...I own a couple of properties in San Diego and Tracy in the same situation with losing the value of the my properties...i believe short sale is the key to solve my problem...I am hoping to succeed and be able to move in to New Bern NC...Good Luck to you and your family....FRED

The Bay Area has an outstanding & successful group of investors that get together for meet ups monthly.

What I can say is that the foreclosure process is to indemnify or pay the lien holder for the financial loss outstanding and not a dang dime more.