I thought trading a mortgage was considered the sale of a security?

The term deed was formerly applied also to other solemn written...Deed (action, quotations)Ability: The difficult we do at once; the impossible takes …, Achievement: It is not the least…, Action: Far better it is to dare mighty things, to...See all search results in Articles (48)Dictionarywarranty deed- property guarantee: a deed that binds a seller of property to defend the security of the title against any claims that may arise against the buyer

There is no way you can live on $1200/mo...absolutely not, unless you were getting social security disability and the wife was working full time...

My advice would be to speak with an attorney and discuss if you can form a partnership with your relative and create a legal situation to achieve your goals.If that is not the case, or if there is not enough time, then Jon's suggestion of a "Deed in Lieu" might be your best option.You made the mistake of jumping into a deal without securing your back end financing.

& to tell you the truth I was wondering what kind of a response I would get from that post.Hence I spent some time considering what I said over the holiday.In my personal opinion in this day & age with so much of our economy based on emerging technologies & securities.

I have steel security doors, but no window bars.Ofgift

If I do that, then it becomes a security, and that is a big no no.

Officials launched a foreclosure-prevention program to help homeowners who have fallen behind on their mortgage, with loans of up to $7,500 per household.The city also recently passed an ordinance requiring owners of abandoned homes _ whether an individual or bank _ to register those properties with the city so police can better monitor them.Elsewhere around the country, advocates in Cleveland are working with the city to allow homeless people to legally move into and repair empty, dilapidated houses.

However, would be possible if I were to open a secured credit card by applying at a Wells Fargo with an initial deposit of say $5000 and after receiving the card in the mail, withdraw my initial $5000 deposit?

There should be a security deposit, just like any other lease.