The borrower wasn't represented and simply went to closing where he learned he was paying off the balance, what a surprise!

We still owe him around 7k(includes remaining balance of the bid and the extra work that we agreed upon).

What's the balance on that HELOC?

If you are assuming this loan get the interest rate permanently reduced or the loan balance or both before taking it on.

I think it should be, "eliminate bureaucracy, balance budget, reduce taxes."

Wonder how to leverage the 401K balance to qualify for a loan to buy a $100K rental property.

You put down your down payment and the bank takes care of the balance.

I must admit I'm a bit disappointed that I will need to leave a message stating my name, number, & bank balance to have an agent call me back.

Lender shall notify the Secretary and Borrower whenever the loan becomes due and payable under this Paragraph 9(a)(ii) and (b): Lender shall not have the right to commence foreclosure until Borrower has had thirty (30) days after notice to either:(i) Correct the matter which resulted in the Securty Instrument coming due and payable; or(ii) Pay the balance in full; or(iii) Sell the Property for the lesser of the balance or 95% of the appraised value and apply the net proceeds of the sale toward the balance; or(iv) Provide the Lender with a deed in lieu of foreclosure(e) Trusts.

When the passive investors you approach for funding do an internet search, your name related to real estate will come up.If you can pull a syndication of perhaps 3-4 investors together to provide the down payment, then various sources of financing may be available for the balance of the purchase price.