My guess is that you're renting your properties by the room to recovering alcoholics or drug users.

If everything else stays the same, and ARV is $200K, you net $190K after the sale costs, $78K after paying off the loan, and $55K after recovering your expenses.

The assets of folding banks will be sold off to try to recover some of the funds the FDIC has to kick in.

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Fortunately, life does go on and you will recover from this.

Less desirable areas where the big price run-up was all due to speculators are having the biggest price drops and will take the longest to recover.

I am referring to the situation where the buyer's financing is approved and the seller has met all his obligations, but the buyer does not bring the closing funds nor execute the purchase/loan documents.I know the earnest money is forfeited, and a lawsuit might follow, but what about insurance and letting the insurer sue to recover?

Two or three years is suggested because it will a least be that long before your credit will recover anyway.

Letting all the blame fall on the end consumer and having them face the consequences while we sit back and watch the banks crumble would put the world in such a negative financial state that we may not recover.

In the past I assumed that it wasn't worth it to go after a debt after eviction because of the very slim chance I actually collect anything.I had not considered that there would be services that would only charge a % of the recovered amount.