I got there way past age 30, but also did not even consider the concept until 40.

@Scott Edwards I never use that calculator.

Just kiddin'.Anyone going through foreclosure has several things going on: 1) They are under a lot of stress, 2) Everybody is mailing to them and knocking on their door, 3) They are embarrassed, 4) They feel helpless, 5) They have the belief that winning the lotto will bail them out at the last minute, 6) It's the bank's fault, 7) This can't be happening to them, 8) They don't want to sell, 9) The house (even though it has a leaky roof and hasn't been kept up) is worth more than market price, 10) Believe you are there to take advantage of them, 11) Believe the government should do more to protect them, 12) Believe that their payments reduce the principal directly proportionate to their payment (Have no concept of compound interest, what Einstein called "the 8th wonder of the world"). 13) They can file a Chapt 13 bankruptcy at the last minute and keep the house if they have income, 14) They will wait until the day before the sale and call you if none of the other solutions work.Your opening comment should be " I buy houses in the area and I was wondering if you or someone you know might be interested in selling".

@Edward B. 

Originally posted by @Edward B.

My small brain can't grasp the concept that something nobody actually needs is worth so much

Thanks so much Edward B!

@Edward B. thanks Edward-the second question I was referencing financing and the banks frowning upon giving the loan to an LLC even if I give them a personal garantee (PG) 

Edward B.

(And for what it's worth, I'm very interested in the concept of house hacking for my first experience in Real Estate Investing, but not too sure on how to actually get the ball rolling.)