Elia,Wow 9 posts and -718 influence says it all.You break the rules of BP anytime.At last, this post was from 09/2007, long time ago I think.

I am overlooking redemption.Some of the time the shift happens 5 days before the auction as there can be rules that 5 days out and the property can not be redeemed by the borrower.Now, you say you want to do a short sale.The lender might not want to agree a short sale.

These passive loss rules were put in place specifically to avoid people having big non-cash passive losses that they offset against their ordinary income.

There are special sections and rules.

The mortgage person said that the rules are all the same.

Of course, according to the rules he mentions above, you'll have to have made at least 10 posts first.And don't worry about doing something inappropriate.

Check the forum rules for what you can put in a signature.John CoreyPS.

Please review our forum rules before posting again:http://www.biggerpockets.com/forumrules.html

(more is better of course if the market allows for it, but just as a general rule) Thanks.Sean

As a general rule assume that all foreclosure auctions assume you have all cash when you bid.