Just to clarify: my understanding of 5.085(b )(3)(C )(ii) the lienholder: ... consents to ... accept payments directly from the purchaser if the seller defaults on the loan; John -- if the seller does NOT contact the lienholder and/or is UNABLE to secure the lienholder's consent to accept payments directly from the purchaser if the seller defaults on the loan, then it seems to me that even if the seller does NOT default, that this would still be considered a violation of the section which can subject the seller to the nasty subsection ©. Am I understanding this correctly? And if so, can you please share some specifics of how you let the seller know this? And of how often such consent is actually secured from the lienholder? I am thinking of contacting you to buy your contracts and/or enroll in your LOC... but getting a comfort factor that this section is not a problem is my primary obstacle right now: I don't imagine that the lienholder/ servicer is going to respond to such a request for consent, leaving the seller at risk should the purchaser decide they want out and start "rocking the boat"... Also, does your purchaser record the option on the property records?
