Yes, it's quite possible to buy, but subject to, not assume.Do the sub-2 like any other equity deal, making certain you have full SSN's for deceased owners on old mortgages and get an authorization to release info signed by the PR.

Also sometimes a contractor will release his lien for less since its better than nothing. 

Payoff demands never specify where the funds were disbursed when the loan was made (a month ago or a decade ago), they just say what it'll take to pay it off and release the lien.Because our hard money / transactional lender just put it in escrow, that will of course be released once the debt has been paid by the end-borrower's lender satisfying the payoff demand. 

Houston Housing Market - April 2016 Tyler Bernhard April 14, 2016https://www.har.com/content/mls/DISCLOSURE: All data was provided by the HAR Press Release for March 2016.The HAR press release has just come out, and given the current economic environment in Houston, it's a very comforting report.

I don't want to go through a private lender.I have also looked into HomeStyle Renovation Loan but it seems like it requires a lot more paperwork just to get approved and release the renovation payments.

Gabriel, I see that you're in SoCal, outside of LA, a modestly lukewarm market.Don't ask for any of that sh-t until you've got it tied up in a fully executed contract so no one else can have it and it's yours if you want it, and then ask for it as part of your due diligence inspections as a requirement to release your inspection contingency. 

The press release is a good easy read to see how badly the FTC sanctioned them.

Yes, it is the same as any other property. the taxes get paid and the lien released at settlement.

Now if the discussion were just about dead equity then yes it is valid to consider releasing that equity thru a HELOC or cash out refi. 

They seem to be releasing the inventory in batches.