So, for example, I know if you were to use the standard Colorado Real Estate Board purchase contract to directly buy a house from someone after they had been served with the "Notice of Election and Demand" (NOD in most places) you would be in violation of the Colorado Foreclosure Protection Act, and would be subject to criminal penalties including prison.

I've noticed alot of the big name mortgage companys like Countrywide seem a bit conservative with their rules.

I'm putting together a short sale for him and noticed that there are several liens for child support.

First determine what YOU are willing to pay (MAX).Second go ahead and put in a reduced offer (10%-15% < MAX).If they counter the offer you've left room.If they do not counter wait 15days and put another offer in for slighlty more, but not more than your max.If they don't take your offers, then no loss to you.

I ended up getting downsized and used the 8 month layoff notice to create a replacement income.

Should I just go ahead and get the property under contract and then assign it to someone else.

Or,In the event A defaults on the loan the Trustee will (after the proper notices) conduct a Trustee's Sale (that's what foreclosures are called in Trust Deed states.So I'm not sure how you could (using the correct meanings of the words) have a "warranty deed to trustee".I'm not familiar with the term "land trust deed".

If you want to spend more in court then go ahead.

If she has a long term lease, give the required notice for entry, perform an inspection, note any violations of the lease, then follow the requirements that apply for your jurisdiction, usually a ten day notice to cure or similar.

But, I believe the time period from NOD (called NED - notice of election and demand here) to the sale has been lengthened and the owner redemption period has been eliminated.Jon