Once a date is re-set, he will no show and you will get a default judgement that will never be paid.

For residential loans, default is only a risk when you can no longer make your mortgage payment; the property’s nominal value is irrelevant.

They could even stop paying the mortgage and let it go into default.

This means that if there is a default issue with one property, it could put the other properties at risk as well.I ALWAYS advise my clients to have each property in their portfolio stand on their own with their own loan.

Obviously you would want to make sure the reason for the default has been remedied though. 

Basically, before someone defaults and abandons, they usually try a short sale on the market.

I don't know Idaho laws but you'd need to find out if the lease is assigned to the new owner or if it defaults to month to month with the transfer.

., the shares in your deal).Now, there are some exceptions to this default rule.

Hi Marseille as long as you have passed the seasoning requirements for a FHA/VA than you can rent the property out without fear of a current mortgage default.

Question 2 is, do you think they are only promoting these cities because they are forecasting a large number of defaults and foreclosures in those cities and want to recapture those properties verse having them sit vacant or become derelict and losing value waiting for an investor?