i would borrow the money from your relatives and pay off the home and not wreck your credit.your young you can gain 30k back over a short amount of time.Ripping rents and going into foreclosure although plausible wil trash your credit and probably cause you undo stress I see folks have done this over the years.. they blame the bank for their problems. good luck with it.. if it makes you feel any better I bought an office building at the top of the market and sold it on contract it cost me 1,200 a month for basically the rest of my life.. but its my core bank.. who lends me millions so no way I can default on it.. plus the PG would kill me.. the bank helps me make millions so 10k a year is a pittance.. get some funds save your credit and character and pay it all off and move on this is not a lot of money in the grand scope of your life.

PG county has more off market deals, and more as you get closer to Baltimore.

They also get PG rated calendar with scantily clad women doing construction work. 

@EricH I'm from Baltimore, but I've been living in working in PG County for a decade now.

We are about 8 months into this field and this will be our first project. We have a wholesale deal under contract, hoping to close in the next 10 days.

The property is located in Landover, Prince George County, Mary...

pg=1

Beyond this, most HMLs require a PG (personal guarantee).

Quote from @Michael Morrongiello: That is also my understanding as wellThe junior 2nd lien gets wiped out it gets  wiped out from that property but the debt remains with teh borrower.. although unless its a commerical deal with a PG rarely do banks go after the borrower just based on the note. 

The pg 22 reading is interesting.

i made a decision NOT to PG loans and put my personal assets at risk in order to become "an investor".i decided my own road would consist of networking, building a buyer base, building business credit, starting two seperate internet businesses and eventually start purchasing real estate when i and my partners are at a very advantageous position to do so.PGing (personally guaranteeing) loans, either through seller financing, HML, or conventional, was not something i, nor my partners, want to do.