The burden is on you as the Note holder to ensure you're in compliance.

If the loan is upside down, they will take the loss one way or the other.So true:  Note holders are just like any other seller.

Hi, I have a couple investment homes in the suburbs of Chicago that have incredible upside potential for rent to section 8/ voucher holders.

Usually the mortgage holder is already aware of this and is on top of it because a tax lien typically takes number one priority, even over the mortgage holder.

The note holder was willing to let me assume the note.

LOLETA: I do understand about football, I'm a season ticket holder at USC and plan to fly back for games this fall.  

Any info will help.Thanks,Phat If the loan is secured by the underlying asset (real estate) then the note holder (lender) will issue a 1098 to the asset owner (buyer) with the amount that the asset owner paid in interest to the note holder during the year.If the note is not secured by real estate, the asset owner will issue the note holder a 1099 detailing the interest paid to the note holder during the year.

OTH, foreclosure is a very structured process and generally the trustee doesn't really take instructions from the note holder unless you want to stop the process.

. , another way to look at it is if the buyer cannot make the payments and the 1st position lien holder forecloses, what happens to your loan?

—(a) A person may not operate as a broker or sales associate without being the holder of a valid and current active license therefor.