Uri Gofman, Tony Viola, Igor Gofman, Kevin Landrum, Dave Pirichy, Dale Adams, Steve Greenwald, George Gardner and James Leoni along with Real Asset Fund, owned by Uri Gofman, and Karka Inc., also owned by Uri Gofman.

Quote from @Joe S.: When you say cut losses, do you mean give the property to the underlining lender or are you talking about selling as is?

Eventually, 358 of the homes fell into foreclosure.The following 11 defendants were indicted on mortgage fraud-related offenses including engaging in a pattern of corrupt activity, a first degree felony: Uri Gofman, Tony Viola, Igor Gofman, Kevin Landrum, Dave Pirichy, Dale Adams, Steve Greenwald, George Gardner and James Leoni along with Real Asset Fund, owned by Uri Gofman, and Karka Inc., also owned by Uri Gofman.

Thank god @Joe Davis!! 

Sure there are people who have done it but like Joe mentioned above is why your rate on HELOC is probably higher than your first mortgage so you'd only do it if your balance is really low and near the end of your term anyway so you're just getting it paid off quicker (like the last 1-3 years of payments left) becaues you want to get ride of the monthly payment and improve your cashflow now versus later.

So slow joe and speedy trump aren't killing Billy & Rachel but killing your rocket mortgage, ally bank, etc.

Hello to all.My name Is Joe Lyman.

@Joe ScottOne of those rare cases when size does NOT matter. :)If anything, it's a disincentive for an auditor to dive into such complexity.BTW, there should only be one de minimis election statement for the entire return.

@Noah Bussanich:On structure, something like the Best Ever Real Estate Syndication book by Joe Fairless will help outline some of the basics.Kim Lisa Taylor on these forums owns a law firm that specializes in syndications, and offers a free book, a free consultation.But the term "how to structure" can mean a lot of things.  

He also wanted a backflow preventer installed in the main sewer line.About $25k so far, but the end is in sight.Just my experience ...Joe