I guess for me I look at it this way also,  if I take this chance the worst thing that could happen is I loose my initial investment lets call it 30k and I may even have to file for bankruptcy.

Competition is tough here in Milwaukee, foreclosures in good areas are going quick, so if you don't have the cash right then and there, then you will loose it.Yes, I have been posting a lot because I like to help and it keeps me focused on my goals:)

If a wholesalers butt is on the line to loose a few K that will light a fire under them to perform.

My name is Craig from South Bound Brook NJ, but I'm looking to invest in real estate in Texas, specifically Houston.  

These guys are used to RISK capital IE invest 500k in 5 deals 4 loose all their money and 1 makes 100xI know I invested in a couple of these start ups and lost 100% of my investment.

That will show your lender you want to help resolve the situation instead of running away from the problem.If you stop the process prior to foreclosure, it may be possible to re-establish your credit thru credit repair and purchase another property through companies that sell to folks just like yourself.Once it gets to an attorney you loose all chances to communicate with your lender about your case.

If market rent is $1200 and his payment is $1430 he will be loosing $230 each month he keeps it with it rented.

Cousins are not my first choice of assignees because there are too many loose ends and possible other relatives who show up when the money becomes known.

So if you're in the hole for $700 a month for the difference between rent and your expenses then the tax benefit may help close that gap where you aren't loosing as much as you think (or breaking even) cause of all the tax write offs.

He's playing fast and loose with the intent of the lease and trying to cheat the system.......