I'm not sure whats left on the mortgage, if anything at all.If we do plan to get that house, our plans would be to get a large loan and either level out that house and start over from scratch, or keep the land and wait to see what happens in the future.Here's my question: HOW or where can we research to see if it would be in our good judgement to further proceed into talking to him about buying it off of him, and also how can we figure out what a good price would be (in our favor of course) Ive seen what the "just mkt value" on the county's property appraiser site, it says 33K.

There is not enough data for a good judgement.

Scores are negatively impacted by events such as late payment, incomplete or partial payments, defaults, and judgements or liens, and range from 300 to 850.

For rentals it is a judgement call but I wouldn't bend it much.

Now, I have heard from various gurus say that the lender will waive the 1099 or the deficiency judgement, but not both -- is that correct?

How do I approach discussing deficiency judgements?

As long as you know where she works you can file, get a judgement, and garnishe wages.

Some states, such as Nevada, are “non-recourse” states and do not allow deficiency judgements.

Mac66 -- You are talking about two different things. 1 At the forclosure sale any amount over the judgement is due the person forclosed on.2 After the forclosure sale the new owner can do with the property as they wish as they are now the owner and are not responsible to any previous owners.

People with bad credit often have made very poor judgements about the value of the items they've purchased with that credit.3.