With the exception of a year that I spent prospecting defaulted borrowers, in all of the normal listing appointments that I've been on (over 100), I've never had a conversation that included "I owe _____ and I'd like to get _____."

I am a mortgage / real estate broker in Michigan, and can assist you with the financing pretty much nationwide and if you are looking for properties in Michigan I can help with that as well.

My company has realtors, lawyers and architects on retainer to assist the investor through his project.

"Most of them, if not all of them, have lost their homes," Montgomery County Assistant State's Attorney Robert Hill said in court Tuesday as McLeod admitted scamming the homeowners.

You might consider just going to the bank and borrowing the money.If the seller is truly desperate, YOU will be able to set the terms.

My company deals with pre-foreclosures and assists in short sales.

The buyer/borrower is the one who offers the lender the lien so the buyer/borrower is providing the mortgage to the lender and signing a note to define the loan terms.

Obviously, in terms of the "Big Picture" there has been a crisis of secondary market confidence with regard to the enormous increase in borrower delinquencies and pending or actual forecclosures which has led to a major culling of the ranks of wholesale mortgage lenders... now probably close to 125 lenders who have closed up shop within the past 5-6 months.Actually, many of those lenders were little more than "Super Brokers" in that they relied upon warehouse credit lines or correspondent relationships with "Big Brother' lenders.It's somewhat analagous to our belief in the notion that a $100 bill is actually worth $100.

IMO borrowing against your equity is a very bad idea.

If the original borrower can't make their payments, at least there's a chance you can.