In our arena, what one would have to defraud someone by making them believe your stopping the foreclosure process without selling their home, but in reality they are selling it.However in the case of making an offer on a home that is well below market value, no where in the law have I found that it outlines or implies that paying well below market value on a property, with or without improvements after the fact, then selling it for more than you paid, is equity stripping.If someone makes a offer, the owner accepts, and you both use a standard real estate purchase agreement, then do a standard closing, even if you do a double closing and sell it for a hell of a lot more 30 minutes later or 5 years later, that's not equity stripping, as the seller fully understood they where selling the property.

Outline where you want to be in five years.

Home Equity Conversion Mortgage an FHA loan for folks who are 62 and older which allows you to purchase a home by making a one-time down payment and never make a monthly mortgage payment as long as you occupy the home.My friend Gordon's plan was to work until he drops.let's outline one creative use of the HECM for purchase.Baby boomer wanting to retire BUTHas a $200k in equity in his home (his entire net worth) and still has a mortgage payment of $1,200 that's holding him back from being able to retire. 

If your able to do it yourself, ask them in a rough outline what steps would I have to take, and any tips they recommend?

In efforts not to re-invent the wheel, I was wondering if you would share you "wheel," or at least share a outline of your "wheel?"

The details are outlined below.It is currently owned by a group of family members who purchased it from their relatives in order to keep it in family.

Page, the way you outlined your plan, the bank would be in first position, and then if you had for example, 3 private lenders, they would go into 2nd, 3rd and 4th position mortgages or trust deeds, depending on your state.

I'm not an engineer, however I am a contractor and he clearly outlines the process to fix your issue 100%.

Just make sure your purchase agreement and/or your assignment of rents agreement has the transfer of deposit outlined and you'll be all set!

(If your attorney creates a Land Trust there is no foreclosure)  Your attorney will have all the resources to complete all of the other items you outlined in your question.