Our mortgage holder has been very understanding with our slow payments, but will not be able to assist with any additional funding. 1.Can we obtain a small $15,000 - $20,000 “hard money†loan for our immediate need?

Kylehave you considered approaching the note holder and offering to purchase the note.

Hi, Ed has a point, ask for an audit, an accounting for the loan in question, sounds like the note holder is shooting from the hip, as they usually do, for a few bucks.

I am buying a house with renters in place and need some advice from some seasoned knowledge holders.

LOL, You better be real familiar with foreclosure proceedings and what you are entitled to.As a note holder, you are entitled only to the par value accrued, the accrued interest, pricipal and allowable fees due the lender.

If they decide not to pay their mortgage (for whatever reason) the bank is usually the senior lien holder and can foreclose leaving you and the other lien holders with nothing.

It sounds like they are the mortgage holder on this property.

I have had many instances to deal with insurance companies as a note holder/servicer.

Awesome, as a buy holder I look forward to a buyers market :D

I have already had conversations about BP with other Equity Trust self directed IRA holders who are actively looking to invest in real estate.