Generally there is none because non recourse lending is generally asset based lending meaning the LTV on the loan is enough to satisfy the risk appettite of the investor but who knows each investor can have different appetites.

I am extremely excited to begin engaging with all yall in the BP sphere.

lol There was quite a bit of searching and several programs I declined joining over a period of a month, but what saved me was simply searching for a few questions I had about wholesaling and taking the time to read the results in the BiggerPockets forums.BiggerPockets proved to be extremely valuable after I took the time to read and research more in depth into Real Estate Investing strategies within the site.

I'm EXTREMELY excited to see how the rest of our group fares -- hopefully Thursday's results lead us to the next round!

Hi all, My name is Larry & I am from the extreme SW burbs of Chicago.

The seller was satisfied with the deal at the time of signing, however, one of the "buyers" on my list was competing with me to buy the house and told the seller what I was doing and she immediately tried to back out.

The buyer agreed to pay P&I plus taxes, insurance and water utility directly to me as nothing was being changed over or transferred (or recorded) until the loan had been satisfied 15 years later.

I am extremely new to real estate and while I have been trying to find an answer to this through searching, I thought I might get a better result by asking.

Legally you could do a foreclosure yourself but It is extremely complex and you would never get title insurance.

And taxes are extremely high.I would definitely recommend against investing there unless thats the model you're looking for.