We split up the tasks based on our skills and abilities, and everything seems to work out great.

Since it is an HELOC, National City will want to pursue a deficiency judgment for the loss amount unless it such point it becomes cost-prohibitive to do so.As an investor, I usually decline leads with HELOCs becuase they rarely work out for the seller due to the deficiency rights.

If you routinely talk to your buyers then you may casually tell them about this property you ran across.

Routine maintenance, capital repairs (roof, etc), insurance are some of the items included.

Do that a few times, and he'll probably be more inspired to work out a payment plan for the rest.

As an investor, it can work out to your advantage, but at the same time, when you have a short sale listed 80% or below FMV you will get bombarded with calls and offers.

It really depends on what you can work out for yourself.

When I transferred monies won from Nigeria, I had to .... never mind, that didn't work out so well.

In fact, while I have discussed loans with a loan officer, I don't think they ever said who of gave the address, not until they obtain permission from the borrower.This is nothing more than a bank attempting to do a work out and gathering options to accomplish the goal.

The biggest potential problem with an owner in assisted living is if you work out a good deal, either her or more likely her family, may eventually decide you took advantage of their poor, old mom and swindled her.