You do need to be sure the contract is properly structured and the terms are clear.

Read more at http://www.quickenloans.com/blog/investment-proper...

So, moral of the story, you don't really have a decision to make here, if you decide to not give the Mortgagee a proper lien, you are likely not getting the loan.

You, on the other hand, I believe, being the current owner not owner-occupied, will have 25% increases each year in your current rates until it reaches the proper amount or Congress changes the law that went into effect Oct 1, which is a possibility as too many people are screaming about the new rates.

To address the drainage issue, we had to remove the existing concrete pad, re-grade, install proper drainage, replace rotten wood, re-pour concrete and install a small retaining wall.

Once I decided what company I was interested in working with, the managing Broker filled out the proper paperwork and submitted to the State to get my actual license.

how do you properly wholesale a property ?

No matter the condition or the location, if properly priced and well advertised any property will sell in 90 days, especially in Prime Time.David Krulac

Obviously this isn't a typically scenario because not many people are going to loan that kind of money interest fre@Benjamin ErtlDebt isn't good for sure, but don't be scared of loans just learn how/when to use them properly.

(Not saying you said that but about to make a point) To some degree, how you said and what words you used may matter but understand that suggesting to a borrower you can help them avoid foreclosure if not properly stated with proper facts around the affects of the actions could cause harm to the homeowner or the homeowner could claim you caused them harm.