If the lender is willing to play ball, and continue accepting payments, then her best bet is to come up with money to make the payments.I know of no way to possibly come up with $350K quickly without having something of value to use for collateral.

A record of that Promissary note should be available to all parties involved.

I'm involved in all facets of real estate, from residential, land and commercial brokerage, to real estate land development, new home construction, the occasional renovation and enjoy real estate investing of all sorts, primarily buy and hold large land tracts.

Ethics are a big deal for Realtors here in California, for instance we( Realtors) can't be involved in a subject 2 deal, as this would jeopardize our code of ethics.

What aspect of real estate are you planning to get involved in?

I would bet that some $9/hour bank rep. told her that she could try a short sale.

I'm not in a position where I "need" to go back to work....but I am kind of bored and I've always been involved in community projects, scouting leader, coast guard auxilliary, pheasants forever, etc....

He charges $400 to evaluate a loan to determine if it is predatory.I am willing to bet that his offer is more predatory than the loan that you got.Why don't you tell us the nature of your loan?

I am a 30 year veteran of distressed SFR investments.I have been approached by some individualsthat want to create a fund not LLC and then buy distressed SFRs in specific areas on the East Coastpossibly Atlanta > I saw the topic on that AtlantaLLC > and I find it very hard to believe theyare giving a 25% that quickly.I am older and retired and most likely will passAnyone here been directly involved doing thisyet?

I know it's probably not the common "investor" way of thinking when looking at a home, but I could see myself living in this house so I got emotionally involved in the place (DOH!).