Many borrowers who file BK and walk away from their properties end up owing for however many months or years it takes the bank to foreclose.There's a lot that went on with the bank, but to be fair, once I was assigned a closer, it took 60 days and about 6 calls/faxes to work out the settlement.Special thanks to J Scott for help with repair estimate documentation and Dion DePaoli for explaining short sales from a lender's perspective.

How would these strangers work out who pays what?

Every property I buy, and many others on BP would agree, have to work out like this.

As I posted on this other BP thread, Fannie Mae Loan workout activity (based on number of loans) now exceeds foreclosures.

Try to work out options with bankI watched my wife work with several unmotivated short sale sellers and it is UGLY!

Sounds like it is, but then it probably is also much more labor intensive since you are required to spend time finding the homes.

How did Angie's list work out for you? 

Secondly,@ Danny Day, your absolutely right, being a landlord for three other people can be intense.

Hi all, I'm a little bummed tonight about a deal that has hit a bump and it got me to thinking - on average how many of your wholesale deals don't work out?

Nice to hear when these BP connections work out well.