I would like to purchase existing notes at a discount and hold them in my portfolio.

The deed and the title policy will list the existing loan as an exception.

To answer the original post, would these questions even be posed if a uniform or commonly used Operating Agreement were adopted in a new or existing LLC?

I edited your posts to comply with our regulations about soliciting business.

And yes, the agent is required to present all offers, and, in my opinion, not qualified to discern legitimate offers from illegitimate ones.Find a good agent...they do exist.

Of course the rate will be higher.Mass media is targeted to those that have no idea of your existence.

I would plan on doing this using this combination:- any extra income from my business- using the money i would have used for my existing house payment (would be free now because I would have already paid it off)- using the income from the tenantwe are cheapskates here :)It would take basically $5100 a month in extra payments to do it, but the $1000 a month saved from no house payment, and say $100 from our tenant in the property would mean we would need to come up with 4k a month extra for a year.

"Subject to" or Subject to Existing Mortgage is where the investor would take over the PAYMENTS on a current mortgage but does not assume personal liability of the property.

It great to see more people joining with existing rehab experience.

`(c) Establishment and Implementation of Program Requirements- `(1) DUTIES OF THE BOARD- In order to carry out the purposes of the HOPE for Homeowners Program, the Board shall--`(A) establish requirements and standards for the program; and`(B) prescribe such regulations and provide such guidance as may be necessary or appropriate to implement such requirements and standards.`(2) DUTIES OF THE SECRETARY- In carrying out any of the program requirements or standards established under paragraph (1), the Secretary may issue such interim guidance and mortgagee letters as the Secretary determines necessary or appropriate.