Good day BP.Looking to add all local active members of BP to my colleagues in the Miami or from anywhere in the country maybe even the world. looking to expand my network hopefully learn a thing or two from everyone I...

The mortgage holder leased the house on a lease to own basis.

The seller would remain first lien holder.  

He already stated the land contract owner (note holder) has already agreed upon a price and will let him out of this contract.  

I plan to retain the current building owner as the holder of the contract (with a small payment going to him monthly) to keep that business within those walls, and I'd operate the business for him.

If there is a lien on the manufactured home them there will be a lien typed onto the mobile home title showing who the lien holder is and what position they have-ie: 1st, 2nd position.  

Higher end is your hard money, lower end is your F&F or self-directed IRA holders that you can convince of your expertise and experience to do return OF and on their capital.

In addition in this area that ship has basically sailed there will always be OREO.. but I am a stock holder in my commercial bank so I get their financials we have not had a default since 2013. 

The lender/bank are willing to negotiate the note since they do not have it although they can make an emotion in court and swear under penalty that the note was destroyed and can not be found but they are the original note holder and promising that no one will claim the property in years to come as the note holder other than them.

Since the note is now part of the bankruptcy, the note holder will move to protect himself by filing a claim as a secured creditor, and ask the court for permission to foreclose, or doing a title search the lender will realize that title has been transferred to another party.