However, I suspect the opposing attorney wouldn't have bothered to send you a violation of automatic stay (which the court takes very seriously and could cause a problem for the opposing attorney if he filed one incorrectly) so I'd be inclined to assume you owe the money to be paid back to the estate of the debtor.

Non-QM lenders are asset based while Conventional lenders are credit based.Non-QM lenders focused solely on the following criteria when green lighting your deal:1-The ability of the property to cash-flow in terms of covering its underlining debt; or its ability ti appraise with ARV that covers the debt if you are flipping. 2-The credit of the borrower (660 or higher, preferably above 700)3- Your liquidity (do you have 3-6 months of liquid assets) after you close on the property.

Your best bet is to either pay down most of your debt, or add a co-borrower who makes a good income and has good credit.If this is for an investment property that will have rental income, and the $1200 already includes your primary housing payment, you have more options.

This creates a transfer of wealth from the lender (bank) to the debtor (you). 

HELOCs make the most sense for short term debt or debt you aren't sure you will take on, a cash out refinance makes the most sense for long term debt that you are certainly going to need to take out.If you aren't certain you're going to do anything, go take out a HELOC.

Basically you buy a home with cash (or some other means) and there is no debt or not much debt on the home.

they bought CC debt for 2 to 5 cents on the dollar although these were already judgements.. not just the debt.so they would stack all these judgements up.. then at 9 years start skip tracing them.. and figure out where they worked and were they banked  some how.. then hit them with garnishments just before the 10 years was up.. theory is after 8 to 10 years these debtors forget about it and you clean out their accounts and force them to do payment plans. seemed rather ruthless to me personally.  

House owned by debtor just sold; heard it was in foreclosure.

Have what I believe is a procedural question: chasing assets on a debtor in Las Vegas; he lied at Debtor's Examination because Writ of Garnishment came back from his bank "No Account"; started going after his house.

If you have found a truly great deal due to your differentiated knowledge of the neighborhood/local RE market (i.e. having a reasonably good ARV estimate), or expertise in rehab, or some other differentiator that will give certainty of execution to the transaction, then it's worth putting your key terms/deal structure down on paper and focus on getting an anchor investor (debt or equity) so you can lock up the deal first.