See also New Jersey Foreclosure Rescue Fraud Prevention Act New Jersey tends to be Pro tenant and anti-real estate investorGet a great contact attorney as Chris Martin says, understand foreclosure rescue laws in New Jersey

This has nothing to do with your real estate agency position.Look to "net listings" with or without a listing agreement.Each state interprets laws differently, someone in one state should not be advising how a RE commission deals with matters unless they have specific knowledge of that commission or state laws.......maybe they are an attorney authorized to practice in your state. 

If you do foreclose on the property you will get all past due payments, late fees, loan charges, attorneys fees, and any forced placed insurance that you may have to put on there.

Have you considered an attorney?

Make sure you get an Attorney early in the process to look over your best interests, always.  

If someone now claims they have under those circumstances, I'm sure they are lying or the judge was related to them or the seller had the dumbest attorney alive.So, wholesaling as it is taught by the gurus has 3 areas of concern, all can cause you a greater financial loss than what you might be trying to make.Now, does that mean wholesaling is dead or can't be done legally, without risks managed, in an ethical manner?

I am looking for an investor friendly real estate attorney in the Northern Virginia area.  

I've seen guys set up their LLC to mail to their attorney's office.

Jeff, I have indeed been researching the legal situation in the markets where I want to lend (Texas and Florida), and I plan to use a local real estate attorney and title company in both states to draw up the documents and provide guidance.

Yes I know you are not an attorney, all I need is your comments/experience.