Call WAMU and ask them if they ever reduce the balance.

I guess they will indirectly benefit by keeping the financial markets functioning and therefore still be able to get credit in the near term.I'd be surprised to see if anything gets in there allowing judges to reduce principal balances on loans.

You must make sure that you have all the proper paper work in place especially since the new laws came out on Oct. 1st.

I'm not an expert but I know some of the questions involved is how many units are vacant, how many are rented versus owner occupied, is it managed by the constructors or by a tenant board, status of HOA balances, etc.

I was at a party last night and a guy told me his daughter just got a loan mod from Countrywide and they REDUCED the balance owed and reduced her interest rate to a market-rate fixed loan.

Yes...the owner did not know the balance of each but there was more than one mortgage.

While it is true that listings cost money to market properly, I will not turn one down IF it is priced properly.

If you have to sell, you will have to bring money to the table, if the loan balance is 95% of the sales price.

You need to find out if the tenants gave proper notice, though, and what your lease says.

Then the balance of the cash would be in 5's, 10's and 20's and stored again where I had ready access no matter what.