I've spent the past few weeks reading different threads on the forum and am impressed with not only the depth of knowledge the members possess but also the willingness, on their part, to help those of us who don't know as much.

I finally got possession back this morning and the morons had made a mess of the place.

We are interested in purchasing commercial real estate (though not development), purchasing performing debt, asset based lending of any kind (We've loaned on artwork, aircraft, cars, etc.), and "show money" loans ( for projects that need to show cash in the bank).

As far as the bank is concerned I never lose possession of the property until that payment is made.

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In other words, I have heard that if a lender (bank or servicer) forecloses and regains possession, then they must keep cash reserves on hand of 30% of property value.I have also heard that the requirement to adhere to this rule hinges on the lenders standing as viewed by the FDIC.True?

From the ones I have been watching (all public record) it seems the lender average to take possession is about 9-10 months from the first date of delinquency.

My last closing was "in escrow", and I didn't actually get possession until the next day.

I would refrain from showing.By law, the tenant has possession.

You are essentially selling the contract without ever taking possession of the property.