Bank recently told him that it plans to mail him soon a Settlement in Lieu of Deed (essentially, an instrument of consensual repossession) to get him out, which would be executed sometime in early 2014.Despite making a good salary, he despairs of ever being able to get out from under the property and just wants out.

If you've found good 'instruments' for trading (like an option on a REIT or on the Schiller home index), please chime in.

That would be the cleanest way to handle this and not mess with any of the wrap idea.Terms of the debt are only found in the Note, there are no debt terms in the Mortgage, Deed of Trust or Security Deed ("security instrument").

What is the instrument that binds you,such as your operating agreement or partnership agreement or subscription documents say about redemption?

The investor who recorded a security instrument received his interest payments during the term of the loan at 12%.

No note or mortgage instrument I've ever read contains such a provision.

IMO, a BPO is not the proper value instrument in this type of situation (construction/rehab loan financing).

I use a Texas Instruments BA II Plus hand calculator.

Before closing, clear up the title and you'll find that the lien has likely been satisfied.Most frequently, bail has been satisfied and, as a matter of industry practice, bondsmen do not go out of their way to release or reconvey the security instrument.

I am a member of a JaxREIA and ProREIA here and its been instrumental for getting educated and meeting people doing things in real estate.