Whether or not they get them to to foreclosure or BK is generally determined by how the "victim" reacts to his circumstances.The area I live in now has very few foreclosures, very few residents too.

The selling agent is going to let these properties go to auction, not giving his seller a proper chance, and doing it completely out of spite.

(Turns out they weren't set up properly to lend in TX).

I have the contract and everything lined up for an agreement between us, but i'm afraid that the money will be taxed because it's not set up as a proper person to person loan.

The redemption period in our State of MI is 6 months, however, if the house is abandoned, the redemption period shortens to 4 weeks, as long as you properly document that the home is abandoned and record this at the Register of Deeds office.There was a second mortgage on the property for 35K.

There's a good chance that the plumbing and fixtures have been stolen if a property sits long enough up here and hasn't been properly secured immediately.

There are risks involved though, so proper due diligence is required.

All other language is very clear about agreements, proper notification, landlord abuses and violations.

(after they have read and studied the proper amount.)

A proper real estate business plan could have helped him avoid losing all of his properties.