The IRS will have an imputed interest rate on any note or installment contract for tax purposes, she would have to be a non-profit for the IRS not to place an interest on such a transaction.This just shouts preditory schemes to me, as to how you can end up with a property after the seller dies and stop paying....In all of this time spent trying to answer your questions I'm really disappointed to see that you have not come further than you have indicated, seems many of us have been wasting our time.

I'm making an offer on a small multifamily non performing note and will negotiate with the seller to transfer title in lieu of chasing the deficiency, or worst case just foreclose.

This program is only targeting non govt insured loans in the first place.

Obrien Law Firm here in Charlotte NC insulted my client verbally over the phone, FAILED to send title work after being requested 2 times, would not respond to emails or phone calls and did NOT represent their buyer client at all in a recent transaction.

Owners may also be able to get the tribe to buy out their homes, and use them for housing for tribe members, or they may have a non profit that could use for low income housing.

As of today, my credit is about 530 and I'm working with someone to get it raised about 150 points in the next couple months (should be before end of year). I want to buy a house but I haven't had a job in years.

I'm...

Are you putting down a size able non-refundable down payment??

The second was a property that we bought at a discount in a cash deal - the money came from a combo of cash, and borrowing from a HELOC on our primary.For our third - which we are currently saving for, after an extremely bumpy 2011 (non RE reasons) - we will be going with conventional again.

There may be some local issue or state tax issue, maybe a transfer tax applied to non-owner occupied, don't know, but Steve makes a good point, state your initial intentions.Such a question is not part of a quit-claim deed to convey title, so what ever it is that you have asking the question must be related to local customs and requirements.

There are many non profit credit counseling agencies that can help you figure the best course of action for your specifc circumstances.