With the help of legal team, the debt can be brought down to a reasonable and manageable level that homeowner can afford.For example in Riverside county CA market where houses went down in some places 50% that is a massive toolfor homeowner in default.Do you have any knowledge of that ?

That's what the article seemed to suggest.I have a credit score approaching 800 and everything else makes me an excellent candidate to get a mortgage but all that is useless if a short sale deal requires all cash.

I am a 30 year veteran of distressed SFR investments.I have been approached by some individualsthat want to create a fund not LLC and then buy distressed SFRs in specific areas on the East Coastpossibly Atlanta > I saw the topic on that AtlantaLLC > and I find it very hard to believe theyare giving a 25% that quickly.I am older and retired and most likely will passAnyone here been directly involved doing thisyet?

My father recently got a piece of commercial property through foreclosure. He has offered it to my wife and I to leverage into a larger home (if we cover his costs). It is a beautiful piece of property on the freeway ...

(g) Sections 580a, 580b, 580d, and 726 of the Code of Civil Procedure do not apply to any action brought under this title. 892.

Bottom line is I saw this as an opportunity to get into the rental market with out having to tie any cash as well as winding up approaching 200K in equity when the projects are complete.

If you approach a seller with the intent to buy and wholesale/flip the property, it is not at all illegal or against fiduciary duties.

He brought me the listing and banks are slow to close.

Greed is what has brought down many empires and I think we are seeing the fall of this once great country.

With that being said, I would appreciate feedback on the process of obtaining a portfolio commercial loan so I am more educated as I approach the banks.