It's a place that I would enjoy as well and I've been considering helping him out on this since I have money for a down payment while he would have no trouble with the montly payments (or paying it off once he sells some of his other assets).

or assets per se.

Performing loans are assets.

`(b) Purpose- The purpose of the HOPE for Homeowners Program is--`(1) to create an FHA program, participation in which is voluntary on the part of homeowners and existing loan holders to insure refinanced loans for distressed borrowers to support long-term, sustainable homeownership;`(2) to allow homeowners to avoid foreclosure by reducing the principle balance outstanding, and interest rate charged, on their mortgages;`(3) to help stabilize and provide confidence in mortgage markets by bringing transparency to the value of assets based on mortgage assets;`(4) to target mortgage assistance under this section to homeowners for their principal residence;`(5) to enhance the administrative capacity of the FHA to carry out its expanded role under the HOPE for Homeowners Program;`(6) to ensure the HOPE for Homeowners Program remains in effect only for as long as is necessary to provide stability to the housing market; and`(7) to provide servicers of delinquent mortgages with additional methods and approaches to avoid foreclosure.

Do a search on google for BPOs, asset managers and REOs.

If not get an addendum to the purchase agreement putting the deal in your name and then once it is done quit claim it to the company for asset protection

You statement reminds me of the many gurus who prey on unsuspecting victims.I think there is nothing unethical about it - that is what people do to negotiate.Any book on negotiations teaches to use a higher authority to negotiate - or at least the ones that I read. ( http://www.amazon.com/s/ref=nb_ss_gw?

That is the sort of stuff that tends to draw the attention of law enforcement authorities like attorney general and district attorney.

As of June 30, the closed banks had total assets of $3.6 billion.

I'm a firm believer in a multi-layered asset protection strategy.