This is much simpler, faster, and cheaper if it’s obvious all is lost anyway.3)You can ask for an extension under the identical terms and make payments to the HML using your own money, or that of a new partner, for as reasonably long as it takes to sell or refinance.4) If it looks like things are going well but you simply need more time and don't have any more cash, the HML might agree to convert your loan to accept all interest, points, and principal, when you sell.

Because it is the government, there is an extra dimension involved - fraud and criminal charges.The consideration the seller gives is a reduced price and/or interest rate.

Looked at the pics.I would power wash the sidewalk next to your building as well as the entrance and patio.They are real dirty and you can see algae growing on them.You can rent concrete pressure washer with a high PSI at Lowe's or Home Depot for cheap.Make sure you spend a little higher amount to get the high psi sprayer.Do Not use it on the house but concrete only as damage can occur.The houses use a lower psi sprayer than the concrete ones.I would say you are looking at identity disorder with this property.I get your story about it but what else is around it??

What you are talking about is fraud.

Just curious- how did you verify this guy's identity as a "bank representative"?

This is a small community of identical units.

Here's a link directly to the SEC document: Investor Alert: Self-Directed IRAs and the Risk of Fraud

One of my clients was an FBI Agent and the position the FBI took as far as financial fraud issues was that a mortgage or secured note was a security and having more than one entity funding could be construed as a mutual funding transaction.

I've spoken to a couple of lawyers here in Florida and I've been told the way the veil gets pierced here is either through committing fraud or commingling of funds.I agree that an LLC (rather than other types of entities) seems to be the best option for rental properties for most people, although apparently some wealthy people use various types of trust arrangements.

I would much rather have a way of verifying people's names so they aren't on here using a handle or phony identity.