The bank said this morning they are still deciding on what to do (which means they will probably take the short sale, compared to foreclosure)But how can I get out of the mortgage deficiency?

I'm with Dale.Real Estate Investors tend to be more pro-active... wanting more direct control of their investments and expecting to reap a greater reward due to their efforts.

to stay local, but since Brian Levredge and J Scott are doing it long-distance I'm keeping an open mind.Investing in rentals out-of-state makes sense to me if you live in an area where rentals just don't cash flow compared to other areas, but is the flip situation similar?

Just wanted to post this quote from an article I read, although I think banks are still ignoring it (as common sense does dictate main goal should be to make sure you are making a good loan that won't default, not that you are not penalized for making a bad loan), regarding it not affecting their default numbers: Banks didn't want their Compare Ratios to rise.The FHA has acknowledged this issue and, similar to how HARP II waives reps and warrants on HARP refinances, the FHA will now exclude FHA Streamline Refinances from its Compare Ratio calculation.

The housing bubble was nothing compared to what is going to happen with all these cities and counties.

You might be rewarded in the end.

I think what they are seeing is competition in the business, more getting into the market who are seeing the possibilities compared to other opportunities. my 2 cents...

Watch out for the tax man if your dividend is excessive compared to your earned income.

According to CoreLogic, "Approximately 1.3 million homes, or 3.2 percent of all homes with a mortgage, were in the national foreclosure inventory as of August 2012 compared to 1.4 million, or 3.4 percent, in August 2011.

Rather, he may be comparing the cost of trash outs versus holding time.