I found out that my regular mortgage is in the second position and my line of credit is in the first position.

I could verify that the amount of money the person claims to make can also be verified, it will tell me if the person has only 10 bucks left in the account as well.

I see your point--it's really not much different than a "regular" sale in terms of someone overstaying.

if you buy homeowner insurance, and have a claim, you'll quickly discover that spending $300 for homeowner coverage is not a savings, it's a waste, because you weren't covered at all.I refer all my borrowers to National Real Estate Insurance / Affinity Group.

Set your premiums higher too, that will save you, and you don't want to be making claims for small amounts anyways.

Their share of the proceeds would get escheated to the state until they file a claim to collect it (if they ever do).

I would be intersted in what title people have to say but I would never expect there to be a payout from a title insurance claim.

., it would be extremely difficult for them to claim you took advantage of them as innocent homeowners – entity or not.

Eric Archer in the book says Originally posted by Eric Archer: Limited Liability for potential exposure to claims of creditors.

Which will be added to your income at the regular rates.