If I understood correctly.Terri D., in exchange for something of value, cash for example, a note holder will sell a mortgage (aka loan, aka note, aka trust deed) by assigning a Deed of Trust and endorsing the Note, they come as a pair.

,I understood your point; however, a file cabinet is not a principal place of business.

I would discuss such as situation with my CPA and be sure he understood and approved what I was doing and then let him sort it out.

But regardless of that, your point is absolutely taken and understood about how things could (and might verywell) go down given that he already isn't paying the bills.The best thing is the 30% less than lower end of comps suggestion fora ballpark figure.

Once you had the paperwork yourself and understood the process for setting it up I guess it would be pretty straight forward.Personally I think I would prefer just to double close it and save the hassle of all that, but to each his own.

I must have miss understood your issue.

And instead of looking for investors to cap on these deals (an option arm is meant for investors and not the average Joe) they put homeowners that in most cases choose to make the min. payment for some time. they would soon realize that their payment was increasing and never understood what deferring the interest meant!

Many major lenders will not do business in the state until the full ramifications of the loan are understood.

If I have understood my accountant correctly, your holdings are treated the same whether held/sold in an LLC or personally.

LLC, S Corp, C Corp, partnership and other things need to be understood when you use them.