So does that mean the new owner of a condo where the previous owner filed bankruptcy and had debts discharged has to pay the previous owners arrears or not?

If you are looking to sell to a wholesaler you need their buying criteria, contracts and standard terms.If you are looking to buy from a wholesaler you need to ask them what their model is.

one of his employees told me that a few years later that that was standard practice for them.again, unless buying from HD or lowes, we are getting screwed.

A notice filed of an option does not prevent it from being sold, neither does a ROFR, as you can't hold a seller to an open term for such a right, you make the offer to sell, they don't buy within the time frame which is required for a good ROFR and if they don't buy the seller is free to sell.

When someone is behind in their mortgage payments the lender will file a "foreclosure."

Being a sale you don't need to show the past income as you do with a lease, the sale is shown by the agreements, filed deeds, HUD-1 and settlement.

Hi Kevin.I had trouble with the picture upload and I think it was because the file was too large.BenRaleigh

And when you say public school district is excellent, most don't realize how good it really is - especially by California standards!

The standard minimal loan amount for conventional and FHA loans is $50,000 which you clearly exceed in all cases.

Here is Ocwen's latest SEC filing that shows foreclosures are not a revenue source.