The children won’t have a choice, will they?

In this case the choices are either short sale or foreclosure.

With an S election that allows you to claim some income as salary and the balance as distributions, on which you pay no Self Employment tax saving 15.3%If your tax adviser is not knowledgeable with these choices find one who is.

I finally found a great property,and I am planning on putting a full price offer in tomorrow.One in a Million chance,the foreclosed party has the same last name as mine, and it looks like they stuck it to the bank for around ~$190K , so Bank will be taking around ~$100K loss .Is the Bank going to look at my offer and last name, realize its the same last name as the foreclosed , and think I'm a relative, or brother of the foreclosed, and toss my offer right into the barrel ?

Once Blank acquires this said property, the construction loan application can be finalized and transferred.

THEY made the choice to spend the rent on crack, or a new puppy, or a big screen tv - whatever.

Then the lender's wised-up....Write the purchase contract as a company...then sell the company to the final investor for a cash payment..

Next day I call, finally get an answer and she says "I read in the paper that there was a home invasion on that street, so I don't wan to move in".

So, about the only DP related choice is do we put down 10% and suffer PMI or do we bump it up to 20% and suffer the bigger cash hit.The simple evaluation gives you a thumbs up/thumbs down reading on a deal.

Finally, I have a large stack of canned food and a swimming pool full of water in case of civil unrest/bird flu/other disaster.