Never owned a home and if I can't get myself out of debt I probably never will.

And they are limited in what they can do since the overwhelming majority of subprime debt is securitized and the servicer must operate within the guidelines of the sale and servicing agreement.I agree if the loans are part of an institution's wholly owned portfolio it might make sense to carte blanche modify mortgage terms across the landscape.

How to eliminate 50% of your work in 48 hours using his principles...

3) Any other expenses I need to consider outside of debt servicing, vacancy rates, property mgmt, taxes, and maintenance when determining if a potential investment property would be cashflow positive?

It is generally debt.

With the short sales i workl, i have complete control thus eliminating the games people play.

is there enough cash flow from the rental to cover the debt service?

Both assume you have the income and debt ratio's to support the property.If you want to have your entity lease the property, you'll have to convince the landlord the entity can pay the rent.

In all cases what I've done first is send them a letter stating what I will do and that while I may not get any money as a result of reporting the forgiven debt as income, I'll have the satisfaction of knowing that they'll now owe a % of that money to an agency of the government that:Never forgets,Never forgives,Is relentless in collecting,and that the debt to the IRS is NOT forgiveable in bankruptcy.I've got a very high collection rate on those letters.

Time to let the tenant pay down the debt, time for appreciation to kick in, time to let the tax benefits reduce what goes out in taxes, time to season the title before refinancing.The slow route is actually pretty quick once you get rolling.John Corey