A quick comment on the application fee.I would post something to the property management forum so that you can collect feedback on what is best to do.

yeah. well she was already in the nursing home and a realtor was selling it. house was free and clear and the state would collect any money made on the sale.

Although I think I heard once that the broker will still collect their 1.5%If there isn't any way I can help her, does anyone at least have advice I could give her as to her best route out of this problem?

If they made a mistake or missed a step in the process of trying to collect the monies owed and reporting to the credit bureaus, the items can be removed whether they are true or not.

Signing the property to you after you already own it is not going to change their right to collect the overbid.Why do you really care?

The less skin the buyer has in the game the more likely they are to walk away and leave the lender holding the bag.You really have to expect that you might have problems collecting the payments.

From what I hear these are becoming more popular, as are loads of collection agencies willing to buy them and pursue for the money.

I get the $2K, I charge a $300-$400 for legal/document preparation and I can charge whatever interest rate I want.Do I occassionally have some hassles collecting?

The servicer of the loan collects the payments, forelcoses when the payments stop and liquidates the property.

She had taken excuses instead of money and hadn't collected any rent for July, August, September, October, or November!!!