If you die without a will and have no family, an administrator is appointed to dispose of assets to pay debts, unsold assets then go the state.That daughter could will her estate to local humane society who would then probably get an attorney, have that note sold and you'd still be paying it until it's paid off or someone foreclosed on you.She could die any day, I doubt she'd go for any termination upon death and besides, you'd owe uncle sam for the forgiveness of debt, that could be next year.Let's not get creative, negotiate terms without balloon payments as those are default opportunities for her, she's been around the block a few times I'm sure!

What would I do if my buyer completely defaults?

It was a game changer for the default data industry, as was Redloc's online publishing was twenty-plus years ago.

Carrie Herrmann - probably varies from state to state but in Oklahoma, if no lease, month-to-month is the default standard in state law.

In CA, it's gonna take six weeks if the tenant defaults (doesn't show to court) plus scheduling sheriff's lockout, if required.

Most lenders and industry experts in the REO field have said the default rate on loans since the new guidelines were implemented is extremely low.

The ideal list contains people who are reachable, want to do business with you, are motivated to do so (a trigger present) and have demonstrated that they are hyper-responsive to your offers.When soliciting prospective sellers, off-the-shelf lists are typically not vetted fo the kinds of triggers that you'd like to see which motivate people to take action, other than people in default.

And of course with an upside down property your buying it out if the owner goes into default is tougher, or makes no sense.

As far as the taxes go, the mortgage company would not neglect to pay the taxes even if the borrower defaulted on the loan.

That is when borrower defaults or family lender attempt to accelerate and foreclose without cause or who knows what else they might do.