It's just a matter of when, not if, the mortgage holder takes possession by foreclosure.

When needed, I can do an eviction for non-payment of rent and have property possession back in 4-5 weeks.30k homes rent for about $600. 50k homes will rent for 700-750 and, in general, have better odds at better tenants.

I won the possession order and then paid her $600 to leave, just so she wouldn't wreck the place anymore. 

It sounds like regardless of what route I take I will need a competent attorney to help me get possession of my property.  

The Beneficiary has all of the property rights such as use and possession.

The next level of course is more expensive but will supposedly provide all one needs to actually use the concepts; such as contracts for sandwich lease options, wholesaling, flipping without taking possession, etc.

General Growth has received a debtor-in-possession financing commitment of about $375 million from Pershing Square Capital Management LP as agent.Pershing Square, the hedge fund run by William Ackman, owns about 25 percent of General Growth shares and had been urging the company to file for bankruptcy.

Scott's link, I believe, looks like it does.The Act specifies "any transaction or scheme....that provides any financing arrangement" (I'm pretty sure those are words used, from my readings) so it's not just a seller providing a note and deed of trust as a mortgage, but any sub-2, wrap, contract for deed or lease option when possession is also given, beyond one year.

"But rather than continuously roll the futures contracts, it just became easier and more economically for us to take possession of the bullion," he explained.

Most homes auctioned at the courthouse are bought by the banks that hold the mortgage, they will place a bid for the amount that is owed to them and take possession of the home.