Through 2013 the Mortgage Debt Relief Act protected owner occupants but that expired at the end of last year so I've yet to see how that's going to effect sellers this year.

Difference between discharged and dismissed.Dismissed is when through the repayment plan of a chapter 13 for example payments are missed or there is another reason the case is filed to be dissolved voluntary or involuntary.Generally the banks that own the note will not talk to the property owner during a BK unless they direct and authorize in writing that it is okay because the bank can get fined for violating the stay and pursuing a collection activity.You can have a BK still in place but the lender on the property or the filer might allow a relief of stay for just the house etc.

With regard to lease options you need to seek out sellers that need debt relief.

Debt Relief?

She moved shortly after this episode to everyone's relief.

In the case of the seller does it make more sense for them to look at something like a sandwich lease as it will enable them to show the property as a "rental property" in the future and utilize the payments as income adding some relief to the debt to income ratios?

Tenants go to great lengths to keep pets without you knowing and when their pitbull breaks through a fence and mauls a kid... your agreement with a tenant (with few assets) is not going to provide you with much relief.

It's much easier to obtain temporary tax relief on SFD, 1-4 family dwellings.

Man it's a relief when you find a lender that thinks about the property as an investor.

It's a relief to know I can reduce our debt load.