Or do I obtain title and then just satisfy the mortgage for the borrower?

AFFIDAVIT OF OCCUPANCYApplicant(s) hereby certify and acknowledge that, upon taking title to the real property described above, their occupancy status will be as follows:Primary Residence - Applicant(s)shall occupy, establish, and use the Property as Applicant(s) principal residence within 60 days after closing and shall continue to occupy the Property as Applicant(s) principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower’s control.That should clear some things up, good luck.

They said they don't even make the buyers buy title insurance.I plan to have a signed agreement today.

You do have a mess for the lender and title company-closing agent, they may charge a bit more in settlement clearing all those notes.

I have recently started in the note business and would say you want to verify the collateral with a BPO, get some pictures etc. verify the taxes are paid and title is cleared and the insurance is in place as well as having a lenders title policy (this is often overlooked).I would recommend using a servicer to avoid any Dodd Frank issues and to make sure your note is properly draftedFeel free to send me a PM if you need more information.

It will be the evening of Wed, Feb 19th in Oakland (ignore date in title - the other dates in posting are correct.)

How did you solve those problems.6) who's your title company?

Our guy always gives us a prequal w/ credit and underwriting after we sumbit all paperwork and writes in the max we were approved on http://www.firstam.com/assets/title/asset-uploads/residential_contract-18153.pdf

The owner name is titled "(Trustee name) in the bankruptcy proceeding of person X&Y".What is the strategy behind this?

There's obviously a ton of money in parks or specs just because people don't understand laws or the fact a home may have a title to retire (vote if you know what that means!).