So in essence with what you just stated above, I'm buying a house with no money down since I should recuperate my initial investment with the nonrefundable $25k and make a couple hundred bucks a month in cashflow for the remainder of the loan (17yrs until it matures) thus giving me an infinite cash of cash returnright?

The only catch is that the premium would be paid off from the refinance and you would not recuperate the insurance premium.

Although this doesn't alleviate the problem of a lower down payment, it does leave you the option to recuperate your down payment within 6-12 months of seasoning.

It's also not just about recuperating their loss either.

And if so, did you recuperate those costs before the profit split on the back end?

I agree that the listing agent should loose his Realtors licence if found fraudulent.My second goal would be to recuperate, lost time and expenses,.

We have fired him since then, but would like to recuperate the stolen funds.

If the person doesn't pay, the means to recuperate your money is to foreclose on the asset and sell it.That is as opposed to unsecured notes like lendingclub, credit cards etc where the debt isn't backed by an asset and if the person stops paying you have little leverage.In the case of the notes being talked about on this forum, equity makes a big difference for 3 reasons:1) Let's say the house is worth 200k and the person has 2 mortgages, one for 100k and one for 50k.

I would rather not rent just due to the fact that if I'm spending $15,000 on a place to live, I would like there to be a chance to recuperate that cash in one way or another.

Many times they don't even send someone to the sale, they just send a letter to the attorney with a written bid that is for the amount they are trying to recuperate.