Turns out, the home was a total loss and the insurance co. had totaled it.

While some banks may allow a borrower to make a deposit toi an individual account, many will not.There are also issues of insurance, loss proceeds being paid, taxes being paid, new assessments, 1099s and 1098s issued, notices conforming to state law, letters of demand conforming to legal requirements, collection practicies and the list goes on....And, by the way, not all calculators comply with legal requirements in computing interest, if you are off one tenth of one per cent, you can have problems.

Holy cow man! That looks to me like a before and after shot in your new profile pic. I've been gone lately and maybe I missed something but you did an awesome job dropping that weight off man! Very awesome job!

I have known a couple of people who downsized (even rented instead of owning) after loss of a partner.

They sometimes do this because it can be a smaller loss than actually foreclosing.

We ended up with a small loss, a few grand, on what turned out to be a 15 month project.

Sometimes it's better to cut your losses rather than throw good money after bad money.

"It came out of nowhere" type losses.

@Joel Owens Gross is $221k with 5% vacancy (building averages one turn over per month but has a backlog of potential tenants due to the garages) and with concessions and write offs the effective gross is $194k which includes the loss of one unit to the manager.

Some may plan on buying but never happens due to death, divorce, relationship breakup, job relocation out of the area, reduced income, loss of job, credit issues, family growing (baby) needing more space then anticipated, health issues, etc.You can't control what happens in people's lives but you can be consistent with the follow up and getting better at your craft.