stopthebubble – no I have not personally been involved with second trust deeds or any equity sharing deals. I do know people who have carried back financing on sales and I always referred them to an attorney to generate the note. That is about as close as I have gotten.
I also agree with the sentiment about not loaning money or renting out property to friends or family.
I think that if your friend needs help, then maybe help her out but don’t view it as a business deal ya know what I mean? Otherwise perhaps just try to counsel her and help her through the tough times. Perhaps she can just give up the home, deed in lieu of foreclosure or something that will not hurt her to much.
