I can understand the concern and doubt.

I doubt that Armando does any of that.

Has he given you any reason to doubt his trustworthiness?

I doubt it's the end but it is a significant triumph for justice.More stories will be comming in for some time.

:shake: I don't doubt that they do some deals, and yes Darius is a wicked good speaker.But I believe the majority of folks who will make an "investment" there are going to be disappointed.

At least I doubt we would, I'm waiting to hear back from my bank on what I'd qualify for.

I highly doubt it's going to change one way or another assuming you rent it to a decent tenant at market rates.

I wouldn't ruin my credit for 250 bucks a month.I highly doubt it would take 10 years to reach a payoff you could handle.A residential recovery and workout of toxic loans is at max about 3 years away on a national level with some areas performing and recovering much faster.Why not go to the bank and say rents have gone down and I am struggling.Ask for them to renew the next time at 3 or 4% interest.That will make the gap smaller and go up in rent just a little but not much.Yes insolvency will wipe out any 1099 phantom gain as long as your liabilities exceed your assets.Most local banks all have you sign a personal guarantee.They consider it YOUR WORD as a vice president has told me that you will honor your contract (one of my clients short selling an apartment).The bank said at that time they DID NOT want to short sale and favored instead writing the interest rate down and extending the loan another year at a frozen rate and see what happens.Banks do not want to DUMP everything like people believe.They only cut out properties they see as having no chance of a recovery in the future or a liability if the took back (war zone,environmental issues).In that case they will usually sell the note if it has environmental issues or they don't want to foreclose.I would try the options I have above instead of ruining credit.

Risk the seller getting hit with a larger deficiency/prom/cash contribution that I highly doubt you'll contribute to.

I doubt many think about the small stuff anyway, good guestion Daniel!