The main things that caught my eye that was recorded 08-22-2006 there was a "MORTGAGE" from SUREPOINT LENDING ABN FIRST RESIDENTIAL MORTGAGE NETWORK INC for 106,250.09-01-2006 there is a "RELEASE OF MORTGAGE" from WASHINGTON MUTUAL BANK for 94k.There are more things recorded before that but those were the most recent concerning mortgages and you can see everything recorded herehttp://www.lcrecorder.com/records/search/result_do...Any additional info needed, I'll let it be known and I don't need people telling me I shouldn't give information out like what you will find in the link because I trust that by the time someone would try going behind my back to steal this property from me, I will have made something happen by then.But my question is "What does it mean for me and the owner that a lender has recorded a Release of Mortgage" going forward as I have looked up more homes that I figured to be a lost cause and am seeing this Release of Mortgage recorded?

If the owner is extending the financing I would think it would be unlikely that they would also front your rehab costs as well.

But, you can always negotiate to try and get better terms, release of collateral when some milestone is achieved or anything else that makes sense.Paul.

But then again I have been a city guy my entire life.I am covering some points regarding local factors prior to my loan being released so I can move appropriately.

@Doug Pretorius thanks amigo@Mike ThomsLast time I talked a my attorney in Raleigh NC she said judges hate lease options, so many abusesAlso to evict a tenant takes money and time in NCNow assigning a lease option in NC, I would enter into a lease and a rofr, record the lease w rofr with a memorandum, and get a fee to release the lease and rofr, like assigning but different.

I can relate to your story, maybe not to the extend of names on the wall with death threat. 

I have a good relationship with my bank and they will lend me the money for a rehab but keep the rehab money in escrow and release money as they see work being done.  

If the property is not made available on these days, or acceptable alternatives, they will be in breach of the contract and more importantly, the inspection period will be extended by the amount of the dealay until such inspections are available.  

Every newbie, and their mother, father, brother, sister, and extended family is a real estate investor. and most of them are wholesalers!

I bought mine in Madison and Rankin counties in Mississippi... these did not get devesated like the Gulf shore but because the storm affected the whole state in some way they extended it inland as there was wind damage up there.. but that is as far inland as the program went.