He ended up doing a double closing when i thought i was buying directly from a regular seller.

When buying with seller finance from a regular owner occupant homeowner, there are exemptions that mean there is usually little impact.

You probably know this, but "short" is referring to the fact that the lender is taking a short (less than principal value) payoff of the loan; it has nothing to do with timeframes for the transactions.That said, my fastest short sale was 5 weeks from offer to close; my longest is currently at about 7 months and we're still waiting to hear from the bank...

If you have a junk offer with junk terms it's better many times to reduce the price a little and try to do a regular deal.With owner finance the seller still has to worry about the property,that you will file BK,that your LLC will file BK,that you will leave the property in worse shape then when they sold it to you,and a whole host of other scenarious like that.

I think you must be referring to the Preliminary Change of Ownership Report?

Usually I use the term stumbling blocks in the middle to refer to these individuals.

What I was referring to is the fact that banks restrictions, which are in addition to FHA restrictions, will differentiate between pre-90 days and post-90 days.

Sometimes referred to as a "silent second".

Think of the land trust saying yes, I own the property but it is "In care of: John Doe""Illinois Land TrustIn Illinois, and in five other states, legislation has been enacted that creates a special type of trust, commonly referred to as an "Illinois Land Trust".

You could bring in a money partner to stabilize but getting something is better than losing it and getting nothing.You could also look at selling to a land holder or a developer for cash to tear it down and rebuild something better.You can also approach your bank and explain your repair situation and see if they will help with the repairs to protect from a default and huge loss.Some small banks will do this sometimes.To the big banks for the most part you are just a number and a loan that has to be worked through.A HML loan will eat you up and I don't recommend that.A regular lender will not touch a property like that.