If I understand correctly this means that if I default, he doesn't even have to foreclose he can just file the for the deed to transfer to him.Now, what is stopping him from going and transferring the deed even without me defaulting (after I sign off on the Deed in Lieu)?

He works with MH dealers.There is an attorney that feels he has a corporate structure that is involved in with other entities to facilitate seller financing, I'm not sure it will really fly as setting up convoluted business structures that do not carry on another business purpose other than to do seller financed transactions as the law, again, includes any method devised to circumvent the intent of the law.As to doing a transaction that is not covered, you may be able to pass a long term interest to a property through a Series LLC (Mo doesn't have this) or something like a HOA where people buy into an organization rather than taking specific title.

Correct.

You are correct but if you don't closed you lose your EM.Joe Gore

I went in completely unprepared with no education on the correct way to do things.

You just need the correct forms and the services that are provided are disclosed prominently.

Everyone here is correct on their advice to you so I won't repeat it.

In the event she does bring the loan current then it shouldn't be a problem to do owner financing correct?

Hey Derek, I'm not a fireplace expert by any account, BUT I do know that the two fireplaces (one on top of the other) cannot be hooked together because if they were, the lower fireplace could not draft correctly and would smoke out the unit above it, most likely pissing off the upstairs neighbors who now have their living room on fire.

It's unstoppable no matter if we are headed towards a correction or not.