Hi Ryan,thanks for the helpful advice. that is pretty much what I thought. the reason I brought up the possibility of buying the second trust at a discount is to better position myself vis a vis the "tenant" who has put so much money into the house and really wants to buy it.that is the most positive thing here for me: someone else wants the house. if I hold the second trust and the bidding goes up above the first trust, penalty, interests and costs, wouldn't I be in a reasonable position with respect to the other bidder(s)?

You have the site wrong, you added an “s”.http://www.2percentmortgage.com 8)

It seems to me that it would be worth the difference between the value of the house and the balance of the mortgage(s).Originally posted by "Ohio Realtor": By the way I would be willing to give a quit claim deed to the capitol building if anyone would like to buy it cheap.

could be a website(s), could be marketing techniques/services, could be just about anything.

Please people, if you dont have the cash or a private or hard money lender, do not even think about bank REO;s.

Now is the time for a career shift to a high growth industry where your earning potential is uncapped. 10 year-old, LA based BroadSpire Inc.’s new agency www.PingWorx.com has recently been selected as a preferred vendor to Realogy Corp., owner of Century 21, Coldwell Banker, ERA and Sotheby’s International Realty.

Heck yeah, I was scared to do my first deal, but I still did it and that's r2d246's point.I agree that having a mentor takes the edge off and gives you a lot of support and that's what he was trying to say.

Not to my knowledge, unless the mortgage balance(s) exceed anticpated proceeds from sale... then you would mortgagee preforeclosure short sale approval.

My question is as follows: Does anyone have any good ideas on establishing corporate credit for an LLC or S Corp?

We are paying 20% annual interest.We are very experienced contractors and an MBA and credit scores are in upper 700's.