In all other states where it operates and has filed papers to be allowed to operate, it is a foreign corporation, and the requirements for corporate governance in the case of a lawsuit do not use the law where the corporation is sued, but instead, the law where the corporation is a domestic corporation.

If CA is non recourse, then there should be statutes that govern how they would be protected.

Dollar = only Government can bid on these2.

This is often from the borrower lacking the capital to meet the reserve/operating capital requirement by the lender who will hold the senior debt.If I had the money, I would provide funds to be an equity partner in multi-family/assisted living facility projects where there is government financing in play.

Hi SteveThanks for your comment.You make a good point and I hope you are right but I am not willing to be a test case.I am not qualified to say, don’t do it, just that the government has the resources to prove their point that the subject of the “referral†ultimately paid.

If the agent lists the property with the owner then the brokerage mentioned in the listing contract has the relationship with the owner.The agent is working on behalf of the broker.Most states have laws that all offers that are written have to be submitted to the sellers.Used to what you were doing was easy to do a few years ago.You could try many different tactics depending on what asset manager you got that day.Many short sales were conducted on the fly with the loss mitigation departments.Now the government has created the short sale streamlined process and many banks have actual short sale departments.This means the process is more automated and harder to manipulate in your favor as an investor.Servicers have to go by strict protocol in their servicing agreements.Not following the agreement can affect mortgage insurance payouts and potential lawsuits from investors who own the loans.The servicer has to document everything and show the least damaging route was taken for the investor.When the loan is a RMBS (residential mortgage backed security) sometimes they would rather foreclose than do a workout with the homeowner.This is because the senior investors position for payoff is first and they don't care about the investors in a first loss position on the security.So what you can do as a short sale will depend on the loan type and who is backing it and the servicing agreement.If it has to be listed they will not proceed until it is done.An hourly worker who has to document steps is not going to fore go one of those steps so that you an investor can gain from it.There is a chance that once it is listed that they will still accept or counter your offer.It also depends on if you are paying cash or asking for expenses.The seller almost never has money on a short sale and any costs have to come off the banks side.

I know HUD properties will be sold for $1 to local government after being on the market for 6 months.

How can the government interfere with a private party transaction?

I found out today that the governments HASP program is a possible alternative to at least refinancing a property even if you are above the mandated fannie mae 4 property limit.

There are ways of doing either or both.When I appraised notes and installment contracts for the government (to assess the note holder eligiblity for benefits and assessing the net worth of the applicants) such appraisals can not be made without collateral inforamtion.