The reason is that by their nature, these deals often are put together quickly and I don't have time to go through the IRA paperwork/waiting period.I tell me borrowers all the time, give me a few days notice!

Power of Sale Foreclosure Guidelines If the deed of trust or mortgage contains a power of sale clause and specifies the time, place and terms of sale, then the specified procedure must be followed.

INDEMNIFICATION: OWNER shall not be liable for any damage or injury of or to the RESIDENT, RESIDENT's family, guests, invitees, agents or employees or to any person entering the Premises or the building of which the Premises are a part or to goods or equipment, or in the structure or equipment of the structure of which the Premises are a part, and RESIDENT hereby agrees to indemnify, defend and hold OWNER harmless from any and all claims or assertions of every kind and nature.

As a prior landlord, I can tell you it's best to learn and follow the laws in your area regarding eviction procedures.

The public records should show his past history of purchases, and you would expect his future purchases to be similar in size and their nature (commercial, industrial, residential - whatever) to those past purchases.

There's not much you can do if you're not on the board or if there's not something specific in the docs that prohibit something of that nature.

How they managed to get the electric back into our name without us getting the bill is beyond me.Being a rental owner sure exposes you to the devious nature of some tenants.Hang in there.

(Naturally I have emailed several firms, waiting for a reply)Is there a better way to go about this in terms of a prepackaged solution through a title company?

I heard Fannie Mae has his own closing procedures, how high will be the costs for this?

You can see similar economics at top law firms, where associates work 80 or more hours per week for several years for the 10% chance of making partner with a 7-figure income.It appears as if some people have a natural tendency to gamble and these are the ones who decide to start businesses.