Run, don't walk, away from any broker that wants an up front fee.

So, the reason that the sellers walked off to take another job will have to be compelling to the lender for them to consider a short sale offer.Steve

You pass them leads that don't fit your criteria, and ask them to do the same.

Also, homeowners in default vacate their houses for any reason they see fit...mostly because they are done caring about the property...they have to leave anyways, why not move on with their life before they bank evicts them.It is also no concern of the investor why the homeowner chooses to move out.If you can swing it timing wise it is a good deal for several reasons...the house doesn't sit vacant....you have somebody living in it that knows the deal (you disclose to them exactly what is happening and charge them a monthly rent below market value)...they can show the house for you if need be...the utilities get paid...and the investor can make some positive cash flow while negotiating...let's stop pretending this is hurting anybody...and most of all...dont make me think for a second we are concerned about the lender losing money because the investor is profiting....its the homeowner in default on the hook and nobody else.

I don't think it will fit behind the front upright.

What can happen to us if we do walk??

It'll be like the people out there that got mortgages that were way to big for their finances and now they're just walking away from them.

I've turned down plently of "deals" that had no equity simply because they didn't fit my formula and exit strategy.

For 3500 this guy will just walk if he can't purchase, and from what it sounds like, he's probably eating into his savings also if he is paying the 900 and his mortgage.The problem is that the two parties have 3 houses (one too many).

The argument he was making to sell the course was that they're already in jeapordy of losing the property due to taxes & not walking away with anything.