Special provisions are allowed for short sales, selling a note at a loss is a loss.If that investor has purchased notes from that lender before that would be a plus, but if it's a national note holder they are generally not interested.If the investor is willing to go in at the unpaid balance, just make a new loan and pay that one off.A big factor is how far under water the house is, if it's not to far gone there could be other options to sell to a buy and hold type investor if it could cash flow and they might wait for appreciation.

The Buyer still has skin-in-the-game and the 1st mortgage holder is still in first position with the same risk that they normally would have on the property.Any help would be greatly appreciated...Thanks...

The only thing I would add is to keep in mind that, as the 2nd lien holder/down payment funder, EVERY.

The voucher can only be used within the jurisdiction of the PHA that the voucher is currently issued under, although the voucher holder can request to "port" the voucher to another jurisdiction, which could be within your state of any other state.

It is because at the end of the day, it prolongs the foreclosure thereby adding significantly to the cost, prevents a deed in lieu which is less costly, and opens up the possibility of the 2nd position lien holder petitioning the courts to force the borrower into bankruptcy, which significantly increases costs. 

Personally, I prefer long time holders of the asset, not just someone who has held it for a year or two. 

Nonresident withholding tax as an equity holder. 

With $75k rehab, it will be around 400k ($375k appraisal in hand).The issue I'm finding is that most lenders want to be 1st on the debt instead of the current mortgage holder.  

Only the license holder can request an extention .

About 10% of these voucher holders are just like you and me, they take care of stuff and don't destroy everything.