I believe the "auctioneer" will attempt to get the full amount owed to be bid by the investors as the opening bid, but this by no means is what will happen, especially if the defaulted loan is "upside down".

Matt Mathews Mathews Realty Associates Ya, I've also considered attempting to implement creative strategies, but I'll work on that as I go.

Repeated attempts with notes on the door and letters in the mail.

The fact remains that it was the banks who made the decision to make each and every loan to any Tom Dick and Harry (plus the loans they approved for each of their pet Dogs) and know implement rules in an attempt to reduce fraud and unethical behavior?!?

3) If we are starting from scratch who would you recommend we contact first to attempt to sell them?

When renting any property you own, it is imperative that you locate reliable and trustworthy tenants to ensure your home is cared for and the bills are paid on time.Advertising for and interviewing tenants is much like an employer attempting to locate the next great worker to join the company.

So I would try a neighboring county and go talk to their tax attroney.If you are attempting a short sale, this property could be sold out from under you as that city/county lien will be considered in the first position.

If you're attempting to generate cash-on-cash return values (ROI), you SHOULD be using taking into account the downpayment outlay and the debt service based on the remaining debt.That said, I'm guessing a lot of people like to analyze the ROI based on 100% debt financing situations, where there would be no down-payment.

It's in both agents best interest to attempt to over inflate the purchase price!

I too would take advice from that fine list of people, but would not from someone like R Allen who offered to teach me for a fee something that did not work for himself.I suspect several of Rowland H Macy's contemporaries probably said the same thing, since it took him 6 failed attempts to get to that 7th winning one.