Financing rentals in this country is next to impossible for foreigners.

It is impossible to accurately figure the expenses for a particular property and a particular time frame - there are simply too many expenses that can not be predicted.

I am just saying that it is not impossible to work the I.E.

Unfortunately I think this is a hard market to get started in (not impossible, but hard).

If my principal amount could be the same as a new buyer's will be, on short sale, I could afford to keep it.If this is impossible, we do plan to sell short.

One of the major pieces to your short sale puzzle is being able to prove to the lender that your homeowner has a "hardship" that makes it impossible for them to make any more payments.

It will be impossible for you to get the new piece in there without removing the cabinet.

You're going to find its impossible to shield yourself against the liability for the debt.You may be making other rich by paying rent.

Iam going through an arduous process with WAMU myself.My case:I have a Condo (primary residence)1st and 2nd mortgage with WAMUtotal owed: $680KI knew I would get into trouble because my business went flat a 5 months ago and my cash reserves are being extinguished.I downloaded the information from WAMU site and submitted a complete package with an offer from a neighbor that is interested in buying the property if price is OK.I submitted ALL documentation to WAMU with the offer, proof of funds (50% downpayment) and prequalification for buyer through Wells Fargo.Offer $375,000 - prices for 2003 as per tax records.Nothing has been sold recently (18 months frozen market).WAMU sent an appraiser on Sept 02 and by Sept 04 the appraiser confirmed that the report had been submitted to WAMU through the third party company that manages Appraisals requests (REM).I have the name, extension number and e-mail of my negotiator but it has been IMPOSSIBLE to talk with her or to get anything from her.Her last (only) e-mail on the 23rd said that she didn't have the apparisal report (I tried to get to her to try to resolve it, but nothing back).Now she is in vacations until the 14th.I had been on time for my payments until August.I haven't made my payments for September - cash reserve extinguished.When will this default start affecting my credit score?

In that case, redeeming the second would mean the first was still in effect.Without knowing this information, its impossible to evaluate the situation.