Then, simply assign the option.Mike

I use to play pool everyday and I was okay you know I had my fair shares of wins and losses.Not/ I was really good I mean if I kept it up and got a hold of the right people to sponser me I could go pro if I want.

Assuming you win, and she doesn't pay up, you can then file the judgment in the public records.

I have to say that subject 2 deals are a win win for all parties involved/It keeps the property out of foreclosure and keeps the credit in place.Who can ask for a better deal...IF you are going to be an investor, why not provide solutions to your clients...?

Maybe it is simply to own both the right to redeem and then the property.Otherwise consider a hard money lender who is not so concerned.

If not it is simply considered a loss!

I have never specifically used options to tie up real estate, but have traded stock options and thought I would throw in my .02 cents on risk.Any option is simply a contract between two parties where one party pays a monetary amount up front (premium) for the right, but not the obligation, to purchase some asset at a set price over a specified time frame.

In contrast, a quitclaim deed simply means the grantor transfers all rights he or she may have in the property, assuming they have any at all.

I do not want to simply become a statistic, I want to learn from this experience (as painful and embarrassing as it may be).

It's funny (not really), when I moved from investing in my own properties to building for others it seemed like I was taking on less risk, but as I found out, I was actually investing in something that was intangable, and when the market got tight, that intangable was simply gone, along with my investment.