Thank you for your participation and good luck moving forward in year two.

You have found the best location for networking and information.Be sure to actively participate... you will be richly rewarded.Also, this article http://www.biggerpockets.com/blogs/585/blog_posts/3453-i-fired-my-mentor- might help you navigate the world of "mentors" and your discussions on Friday.Best of luck!

FDIC Institution Directory.

The Receiver works with banks/lenders, loan servicing companies, and brokers and lawyers who have a working relationship with asset portfolio managers at banking institutions who have a default commercial property portfolio.

I look forward to participating in this forum.

I never asked them to let me out of the deal (it was good enough that it was worth waiting for), but even if I did, they could have said no, and I would have been stuck with $40K tied up for 7 months whether I was a willing participant or not.These days, I try to keep my FNMA deposits at $5K or less, just in case something like that happens and I really want to back out...

But, if a borrower defaults to a bank, that lender will be viewed as an institutional lender, being regulated.

I can tell you a few stories about the home owners being dumb - but these financial institutions called banks / lenders / servicers should be a bit smarter.That is why I said I was baffled by what I had seen with the one case I mentioned.

Their stuff has been purchased by other institutions.

There is a BP group on syndication if you would like to join it and ask your question.Equity stakeholders will participate in the upside so that would be a better source for the remaining funds.