I think it should be taken into consideration the door it leaves open to being able to 'pierce the corporate veil' when you have a property in an LLC and the mortgage in your personal name.

Even if you have an LLC you need to be clear about who is offering to help the seller.If you mess up and leave the place unlocked, there is a fire, or there is an event related to mowing the law you need to know if you are covered.You could lease/option the property and agree to do the work as part of the deal.

Partnership or S-Corp is getting into details I leave up to paid professionals.2.

I would leave nothing to chance - get the lender-servicer to state in writing that they will accept the proceeds from the short sale and release the mortgagor from any further liability under the terms and conditions of the promissory note.

Ive since found that rental would be more like $900/mo, but I still doubt this changes the equation much....I guess Ill just leave the price at 179k and wait it out...This makes me wish I had countered the 165k offer.........

Did she perhaps not meet the terms of the lease like leaving early?

As AllCash has already mentioned (you have quite a memory there 8) ), the PMI drops off at 80 LTV (loan to value)---based upon the figures you provided, your current loan to value is 88...There is no benefit to a rate and term refinance at this point, if your intent is to eliminate PMI...There might have been a time when comparing a refi option with LPMI (lender paid PMI) might be feasible, but in the absense of more info (and prevailing market conditions), you might be better off leaving things alone.Regards,Scott Miller

Please respond with both the "what" and "how"---example...What: Canvassing foreclosuresHow: Weekly NOD Search at the CourthouseFeel free to go into depth on strategies, techniques and how-to's if you care to...Let's have fun with this and share ideas and leave a footprint for others to see and learn from in the future.

well first, you should not have made the offer in the first place.with that offer - you're leaving yourself with 12% equity.that's not a WHOLESALE PRICE.

Its also a higher crime area.....I worry about leaving my car parked there.But there are some new areas that are gated, so maybe thats what you are looking for?