The best thing for the government to do is to let the market take care of itself, any bailout will only delay an eventual recovery.

Recovery is possible up to 8 days after sheriff's sale in my area.

This is an exciting time to jump into the market and be in on the ground floor of a re-emerging market.I think the recovery in Detroit is going to take a bit longer- I think it will be languishing for some time-- especially if Michigan's politicians continue on a course where tax increases are the answer to the State's serious economic woes.

Lenders have departments for these things (loss recovery and other names for the departments).Clearly some lenders got it wrong.

-Michaelthis is absolutely not trueThis is true: The Landlord Tenant Act of 1951Section 250.512 Recovery of improperly held escrow funds (e) Failure of the tenant to provide the landlord with his new address in writingupon termination of the lease or upon surrender and acceptance of the leasehold premisesshall relieve the landlord from any liability under this section.

The best way to analyze real estate cash flow is to complete an APOD (Annual Property Operating Data) worksheet, including all cash flows and tax implecations (taxing & depreciation/cost recovery) to determine the before and after tax ownership benefit (or loss).This is only the first step in analyzing a property's performance.

I thought this article would be an interesting read for everyone . . . not very confident in a recovery anytime soon:Pain Street USA: '08 housing outlook

To add insult to injury the above quotes paragraph ends with "unless the United States Department of Housing and Urban Development or a court of competent jurisdiction determines that this exemption is not in compliance with the SAFE Act pursuant to Section 1508 of Title V of The Housing and Economic Recovery Act of 2008, Public Law 110-289;" so HUD can just decide that I am not in compliance and sue me for the 5 notes I have created under South Carolina law.

(this is usually NOT the best course of action)All the attorney will do is hire a collection company that has more bark than bite and rarely collects any money.The other option is to use a judgement recovery company.They usually pay the court costs and filing fees and then split 50/50 of whatever they recover.Sometimes they will buy the judgement outright for real cheap.In this case you get your cash right away and move on.Judgements depending on the smarts of the tenant can take 3 months to years to collect.Some tenants are judgement proof.This can happen when:1.The funds are retirement funds in a bank or social security where money can't be taken.2.The tenant works a job where their income is at a level where they cannot be garnished by Federal Law.Even when you can garnish you can only take 25% each time.If their are other judgements already garnishing then the 25% gets split up among the garnishments.85% of judgements never collect a dime because of the work involved.Even if the judgement company you employ chases the tenants for money the tenant may pay or they might just file BK if they have other debts.A chapter 7 costs thousands so it would depend on their other total debts and how much your judgement is for.This is why it is important to carefully screen tenants.They need to have good credit,a good job with long work history,etc. or something where you know you can collect if they default.If you have multiple tenants staying in one place and they all make minimum wage it will be hard to collect on them later versus one person showing great income.Hope it helps.

The very, very, few repos we get there we almost always get 100% recovery.