Within the last 5 days, the loan balance has to be paid in-full although there's a provision in the loan document that states it's at the bank discretion if they would accept the arear outstanding balance and stop the sale. 

HI BP,I am in Northwest Indiana looking for a new accountant that knows all of the write-offs that an investor can take on their tax return without getting an audit. This accountant needs to know about tax strategies ...

I want to contact the first lien holder and pay the outstanding balance and start my own foreclosure to make sure my position is protected.  

While your actual student loan payments may be lower (income-based) or even deferred, FHA guidelines state you have to use either a) the "actual documented payment, provided the payment will fully amortize the loan over its term" or b) the greater of  1 percent of the outstanding balance on the loan; orthe monthly payment reported on the Borrower's credit reportI suggest you get a second opinion from another local lender.

I'm just starting out in wholesaling and put my first property under contract to find that the property owed an outstanding amount in taxes.

@Bob McKee If you ever need help securing financing through HML’s – I work for a direct nationwide lender (and have completed many deals in both the Nashville and Austin area) with a high leverage fix and flip programs as well as large balance commercial programs for both acquisitions, development and REFI’s.Always happy to speak in person,Alexandra

The seller will need to pay 6% in commissions and the remaining 11% will go to closing costs, seller concessions, outstanding taxes, and other costs of selling.

The outstanding loan balance would be deducted to determine the asset value being distributed.The value would be a taxable distribution treated as regular income and added directly to your AGI.The lender would need to go along and likely update the note to reflect your ownership when the title changes.  

This area is right next to the the gorgeous nation wide children's hospital.  

I help run the largest consumer real estate database of the Tax assessors sales/mortgage deed nationwide.