That lender could foreclose on the property and wipe out your lien, and you lose your $80k.  

Gold country baby!

I'd actually have fun, but I'm sure it would take so long that the holding costs would wipe out any profit.

You move out, and bam rent that baby.

In Florida, HOAs don't wipe out 1st mortgages.

As a Generation Y baby I wouldn't consider my generation the "best" I would consider it the most lazy, so many of Gen Y babies are still supported by their parents and wouldn't last out in the real world on their own.

It's a little strange but these days commercial financing can sometimes be more cost effective than what an owner would do unless they're willing to accept a really low interest rate.The situation I see a lot recently is a retiring baby boomer with plenty of equity.

I too have been asked to do a Pod cast on BP  and many members have requested it.. the owners of the site require skype and I don't know that one.. and a eye ball thing.. and some other computer junk.I was going to fly up to Brandons home and do it in his studio.. but he had a baby this spring so I thought I would do it later in the fall or next spring ..

We got the payment history back today, and sure enough last payment was June 2012, so they have not paid off the loan and when we go to foreclosure we have the payment history and we are confident we can get the foreclosure finished, and wipe out the Federal and State tax liens.Then we plan on doing a high end rehab, and put it back on the market. 

"Hey baby, you want to get out of here and go back to my shed."