I had bad credit, school debt and had to borrow my first down payment.

If you're comfortable and know how to positively leverage debt, I suggest you borrow the max that the lender would allow.

I'll work until I die in some fashion but I want to show my children that going to school, graduating college and getting into huge debt to buy your house and work for someone else isn't the way!

One of my attorneys has been following this case and sent me this link to the L.A. Times article:

http://www.latimes.com/business/la-fi-house-thieves-20140124,0,309265.story?page=1#axzz2rQTi3H9w

I've fo...

Here's the situation:My sister-in-law is in serious debt and can no longer afford the payments on her house.

We know that it is not worth $210,000 since it hasn't sold at $200,000.If I am using debt capital I prefer a return of 3 percentage above my cost of capital.

They are looking at credit rating and debt to income primarily but I think having all your checking and savings might be helpful.

Let's look at it this way also.2,400 X 12 = 28,800 a year. 28,800 X .40 (60% costs) = 11,520 NOI before yearly debt service.So 115,200 sales price at a 10 cap.

If collection attempts have stopped, the note become a "stale" debt, as they may be viewed as an abandonment of the loan by the holder over time, they will be uncollectible.

In this example case the lien is extinguished and no unsecured debt would not exist either.The senior mortgagee would still have to foreclose.