As far as a 1099 yes the lender will write off the loss and send the debtor a 1099 (almost always) which is treated as income and taxable by the debtor… However, there is a new law that just went into effect and under the right circumstances it makes it so the lender can not 1099 the debtor.

My friend/partner want to buy an reo together.

parter has 750 credit score.

I have 652 credit score.

If we we both go on the financing will it lower he's score?

I want all the walls and ceiling removed and have the room blueboarded with plastering.

However, I assume that an effective wholesaler is putting a large magnitude of offers out there every week, most of which he/she has never seen personally.

There are good, effective ways to do this.. and there are clumsy, stupid ways to do this :-) Ask me how I know...

The actual risk is likely low unless someone wants to make an example of you.I have heard of the idea used to good effect before.

are these types of numbers effective also in "cloaking" your identity when using bandit signs?

With this arrangement, my financier in the states, will be effecting your payment deposit to you.

What you owe on it has no effect on what you can sell it for.

Like a bad roof, obvious mold or water leaking issues that could cause mold, known asbestos removal requirements, foundation problems, furnace or boiler replacement.