As a wholesaler will the Default Amount section contain to me or the new buyer?

There is a less expensive way if you want to simply do it yourself through info bulletins (for example http://www.ladbs.org/docs/default-source/publicati...), the city of LA (and will apply to some cities) and other cities/counties usually have these kinds of instruments when building owners use it commonly in submitting plans or doing it themselves.

So if they default you never saw a penny. 

Due to the huge cost of housing in Florida it is unlikely you would be able to have both places under the same $36,000 benefit ($36,000 is the amount of money the government is will to cough up if you default - this is how you get the loan without paying PMI).The great thing about the VA Loan is if you can prove you are upgrading (especially for family planning purposes) you don’t need to be PCSing to reuse the VA loan benefits if you have some left over.

It was a steal so that’s why we had to get this one...only issue not sure if it is the person that defaulted or a real tenant...what tips do u have to approach this situation.

What the defaulted loan balance is, or what the original loan amount was for is irrelevant in your scenario.Start with what the property is actually worth then go from there on your negotiations.

@Shawn C.Divorce filings are not my main core lead generation funnel, but I purse them if I see them in preforeclosure or Notice of Default, or tax delinquent.

She is about 3 months in to a 6 month lease, which defaults to month-to-month after that.

You shouldn't worry about who you do your other banking with - be laser-focused on the right commercial loan terms if you're going to finance this to take cash out (vs. selling).I won't be helpful on the selling front, but as per financing, yes, if you can get that early option exercise from the tenant, typically we can get lenders to more or less match the lease expiration with the loan maturity, because it eliminates that risk of an empty property leading to loan default.

If a borrower defaults on a home, then FHA makes a claim against the MI reserve that HUD keeps.