If the borrower files a chapter 13 and actually makes payments the foreclosure may never take place.

If they come up with the same $105K value, you'd be able to borrow about $73.5K against the property.

MikeOh does these loans often, so perhaps he can be of more assistance to you on that subject.

Now were up to roughly $18k assuming the potential buyer does not asking for closing cost assistance.

Too much generalities, too much "making it harder than it really is", and not enough assistance/mentoring once the education is complete.They also have what they call their "investor concierge" which is "click a mouse & buy a house" Not only are the deals not good, most of them are very poor.

The court can issue a 1099 (to the borrower) for the difference or they may send the borrower to a collections agency, or even garnish the borrower's wages.In regards to foreclosures, Trust Deeds are a written instrument legally conveying real property to a trustee (or a third party) used to secure a mortgage or promissory note.Trustee's SaleA sale conducted by a Trustee, in the case of foreclosures, this refers to the sale of the property in question.Notice of DefaultWritten notice sent by a lender notifying the borrower that he/she has not met his/her obligations under the loan contract, and the lender may take legal action to enforce said agreement.

I couldn't read your entire post, so I can't respond properly to it.I'm sure that you were not aware . . .I hope that others can make it through the post as to give you some assistance in your needs.

I'm a workaholic so I can't truly quit, even though I don't need the money.I'd borrow as little as possible, do as much work as you can yourself.

The process can be challenging for many consumers but you can benefit from the assistance of a trustworthy and knowledgeable person, such as REALTOR Michael Saad.

Thank you for any assistance.