You'll have a contract to buy and sell a note, there will be warranties and representations made but if that broker can't repurchase that note, you can be stuck.I appraised notes for the State of Missouri, many were not made at arm's length, some were fraudulently made, many had overstated real estate values and there were those that were in violation of law......and that was prior to current laws!

Thank you @Brianna S. for your validation of my move to a 30 year and I'll bring my schedule Es when I meet with a broker next week.

With the warranty, you should keep a few hundred bucks a month.

Warranty didn't cover it.

A POF letter can make it much easier to get deals under contract, assuming it is valid and current.As for EMD, most investors I know only put a small amount of money down on a property.

The Property is in ____________________________ County, and is described as follows (If lengthy, attach legal description):______________________________________________________________________________________________________________________________________________________________________________________________________________Address: _____________________________________________________________ Zip: ________________It is understood that the Property will be conveyed by General Warranty Deed (unless otherwise required) subject to taxes, existing zoning (unless otherwise specified in paragraph 16), covenants, restrictions and easements of record.1.

On one of the short sale offers, I received a verbal rejection but it seems the offer could still be considered valid if there is not a written rejection.

But they have a 90 day warranty on most stuff and lifetime on hand tools.

If not sold, property goes to "judicial sale" , where it is free and clear of liens, mortgages, etc, however, I believe you receive a "tax deed" , not a warranty deed.

No, a mechanics lien doesn't seem valid, and you'll likely have issues filing a fraudulent lien.Attorney, now!