They won't typically be licensed but they are better than GC's half the time and definitely cheaper.

The Mortgagee must obtain a lease agreement of at least one year’s duration after the Mortgage is closed and evidence of the payment of the security deposit or first month’s rent."

I've been thinking about investing around 50-60k for a cheaper house and just renting it out to pay off the mortgage.

A real estate broker, for the purposes of this article, is defined to be a person, firm or corporation who, for a fee, commission or other valuable consideration, or by reason of a promise or reasonable expectation thereof, lists for sale, sells, exchanges, buys or rents, or offers or attempts to negotiate a sale, exchange, purchase or rental of real estate or an interest therein, or collects or offers or attempts to collect rent for the use of real estate or solicits for prospective purchasers or assists or directs in the procuring of prospects or the negotiation or closing of any transaction which does or is contemplated to result in the sale, exchange, leasing, renting or auctioning of any real estate or negotiates, or offers or attempts or agrees to negotiate a loan secured or to be secured by mortgage or other encumbrance upon or transfer of any real estate for others, or any person who, for pecuniary gain or expectation of pecuniary gain conducts a public or private competitive sale of lands or any interest in lands.

During that time, I also had 2 mortgages that were successfully modified--but as a result my credit scores have suffered and dipped to the low 600's.

In the mean time they are looking at houses out here but do not want to get a new mortgage at their age ( late 50's early 60s).

In the mean time they are looking at houses out here but do not want to get a new mortgage at their age ( late 50's early 60s).

To give some more information on my plan, I am in the beginning stages of contacting lawyers, agents, contractors, mortgage brokers, and hard money lender to build out my contact list.Simultaneously, I am beginning to develop systems for generating leads.I have been listening to the BP Podcast for the past year and it has been a tremendous help in driving my interest in REI.  

If i ask for 3% seller assist, does that increase my monthly mortgage price?

So a family member gets sick and let her house which was bank owned with a mortgage get behind on her mortgage and utility bills to the point of potential foreclosure.