That said, not too many Detroit performing loans trade that high as the area still gets hit with additional risk of value deterioration and higher default probabilities.The non performing loans we have purchased in the past in the area are lucky to make it up to 40% of current BPO.

We went in l $21,000 & got it but had mold etc to deal with & we sent them pics to confirm the deteriorating condition.The taxes were paid for the next year in advance by the Bank.The next one was a 3600 sq ft mansion built in 1830 on 2 acres near the lake.

Please, double check me on the correctness of expenses placement into current (a write off for 2012) or capital (depreciation).1.building a new protective covering over electric panel bank (old one was deteriorating): CURRENT expense, since this repair restores the electrical box cover to its previous condition.

Banks are willing to allow borrowers to sell their properties for less than what is owed on the mortgage, as this saves the lender time and money on attorneys, foreclosure, deterioration of the property, etc.

It's not a home run, but if you live in one side for a few years, it will probably work out pretty good as long as the neighborhood doesn't deteriorate.

Normal sheetrock will deteriorate from the moisture and make you have to do the whole job again sooner than later.

Mobile homes deteriorate a lot faster than stick built homes and will not hold up as well.

Property management is the biggest part as if they are handling the work you have to be sure that they are competent and going to be able to handle things on your behalf and not let the property deteriorate.

Values never deteriorated like in other parts of the country.

It seems to have deteriorated into a pissing match with us stuck in the middle.