Keep tabs of what they feel is owed, try and collect when the borrower sells

Just saying prices should fall by 50% based on the long term data doesn't imply that the price of every house is going to fall by 50% from the peak.

It takes an additional five years, seven total, to get back to the same nominal price.Unfortunately, seven years from now, $150K is equivalent to only $108K in today's dollars.Since Real Estate only appreciates at the rate of inflation, over the long term, (see Case-Shiller data), you'll never make up the loss over then next few years, on a post-inflation basis.Then, you sell.

So, collecting the cash now and holding off on buying a residence might be reasonable.If you can easily find houses for $75K, I'd dig a little deeper and find ones I could buy for $55-60K.

Even if they decide to adjust assement values lower due to lowering price all they will have to do is bump that take rate a bit higher and still collect the same amount.I can't see the government take a big hit in the tax department.

In most areas, though, you have to make an effort to re-rent it, and can only collect rent from them until you get it re-rented.I'd tell them they must immediately clean the place up nicely.

Buying for a token amount then collecting the overbid from the county?

And they are still collecting a property management fee out of the monthly rent so they are supposed to still work for me and let me know this situation correct?

Is there any way to collect loss monies if there was no agreement or he is only entitled to evict them?

I'm worried about the HOA's ability to collect fees from the bank owners of these foreclosures and what that might mean for the members that are actaully paying their fees.