If the deal is that the seller wants to be able to continue to show the house, you could put in that you the optionee have the first right of refusal under certain terms.

Continueing to make my underlying mortgage and the 4 months or so it will take for foreclosure not to mention the cost of lifitng the stay and recording title after is not going to be cheap.

Therefore, I would suggest holding your properties in LLC's and of course, having insurance.If you look at most insurance policies, you'll discover that they don't cover many of the things that tenants like to sue for.

Leaky faucets are fixed, toilets no longer run continually, cars are not washed every day, etc.3.

Even if you record the deed.As long as you continue to make the payments, and as long as your friend understands that he will still be on the mortgage on his credit, and as long as he didn't call the mortgage company to tell them what is happening, you should be safe.The hard answer is, yes you can get caught, and if you do - you will need to pay the mortgage in full, or your friends credit get's trashed and you lose the money you have put into it.

The economy may be in the tank at the moment, but our young people will continue going to school -- and I think the likelihood of even more trying to go to school will put even more pressure on the already stressed housing climate around colleges and universities.

They have been on the mkt at this price for well over a yr.If the sign out front reads foreclosure (and the relator continually says "make an offer - nobody is 'biting'") is that my green light to make a 'silly' offer?

If you want to grab a cup of coffee and trade idea/stories or whatnot, let me know.It's a great area that's continued to grow and weather the slumping market pretty well.

"Will we have to continue to pay our mortgage and our maintenance fees?

I will be putting a tenant buyer in to purchase down the road.Is it fine to keep the insurance and the taxes (in sellers name) and continue to make the regular payments?