I am unaware of a lender/loan program that will lend money on an asset that you don't own; why not sell the note rather then refinance it?

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All they need to do is cry to the housing authority, or just call the local police, and get in and then sue me.

The lawyer would need authorization from the homeowner, etc., and I can see a conflict arising.

If it is properly set up you do not have to worry about being sued and losing personal assets, only the assets of the LLC are at risk.

I dont want to sell it because it will be paid off in 15 years and will be a good asset for retirement.

My long term is to have $500,000 in real estate assets in 15 years and $500,000 in stocks and bonds in 15 years -that is another story.

The FHA’s loss mitigation program lists pre-foreclosure sales as one of five options that lenders have the authority and responsibility to investigate when working with homeowners in financial difficulties with their mortgage.

By doing so, you have some idea of what price range you looking at.When looking at pre-construction projects as investment opportunities, I’ve noted that most “Hard Money” lenders state that they want Verified Assets (6 months Principal, Interest, Taxes, & Insurance) when qualifying for 100% financing.

Usually a 700+ FICO needed...we have seen 680 work with above average assets.