The first lien holder has agreed to a price of $32,000, on a balance due of $90,000.

That's where the housing authority directs Section 8 voucher holders to look.

The bank will also file notice with the local courthouse that they have a mortgage on the property, and they will notify the insurance carrier that they are the mortgage holder on the property as well.

If they are all on the lease and not listed as occupants, I was billed for serving each one with papers.Otherwise its just served to the lease holder and I include "and all other occupants"

FYI - for those of you with Chase, they do accept cash deposits for non-account holders if it is a business account

I've heard that the mortgage holder could call the loan due or foreclose for violating the terms of the contract.

Have their insurance company/agent send you a copy of their coverage directly and ask, at a minimum, that you be named a certificate holder on it, and if you want to go a step further, be named as an additional insured.Check with your agent to find out what coverage you should have too... you may very well find that carrying builder's risk is a wise choice along with vacancy insurance, etc.

There are no special provisions required in the note or security agreement to address future holders of the obligation made.

The title holder sells it and cuts a check to the other person.

They do cover arson insurance, as long as the policy holder isn't the arsonist.