Don't forget to get a borrower's auth. you can get simple forms from this site. good hunting. you may want to line up quik money,in your area I would call Randi David at metroplex investments in Alt.Springs 407-774-7000. tell her MattG told you to call.

Buying before the auction involves buying from the borrower/owner who is about to lose the property.

I agree it's time to sell, and not just for the reasons he stated.You said that your initial investment 6 years ago was $100K, so extrapolating from your statements; the house is worth $340K today, you and you have $150K equity so you must have borrowed $200K so you've gotten mortgage paydown of $10K.

In all of my deals where there is seller financing and I am borrowing I put in the first right of refusal if the seller wants to sell the note.

The borrower is a corporate entity.There is also a lot of scams on the Internet concerning MTNs.

If you are a cash buyer they will likely consider the offer more solid then a loan where you expect to borrower from their own bank.

I'd be glad to assist you and answer your questions.

The borrower who no longer owes the money does owe tax even if the 1099c is not received/filed.

You would then foreclose on the borrower.

My bias would be to agree a note with specific terms and then have the borrower provide a mortgage.