It just always seemed to me to be a formula that they can't bend, but maybe that is because I am working with Chase Bank now.Now, I have a related but possibly silly question.

We're not looking so much to make a short-term profit from the renting of it, but more of a long-term objective (hoping the property values will eventually hit their values of 1-2 years ago in the next 5-8 years).So, we bought a small condo in Destin, FL.

All relatively free stuff here.

Your question is excellent- and by extension, relates to the reason for my joining a company that is perfect for these times.

It looks like it is a relative that lives out of town.

As for "on your own", you can try talking to neighbors or trying to locate relatives.

And a long and related thread here: When is it time to incorporate?

I havent had an issue that hasnt been tenant related and the tenant hasnt paid for.

The asset value is often much lower than the loan value because all the expenses related to foreclosure and selling expenses have to be accounted for when its transferred to other real estate owned.

Destruction thusfar seems relatively minor (compared to Katrina and others).