I seem to remember the process for participation as a partner with the RTC was extreamly difficult and they seperated and spun off the valuable assets before they repooled, packaged, and found GP's to take what was left.

My idea is to offer them at 40-50% below market value so there is a good deal for an investor, since these times are difficult.

We still have not hit the bottom of the market, and the appraisers have been difficult to deal with.

Therefore, they may be less wlling to discount their properties.Most agents will submit any reasonable offer, but it is difficult to get really big discounts here.

The point is to make it very difficult for people to sue you and actually get the money.

I heard that Suntrust will go as low as 25% of the remaining balance.

Forming a LLC and geting a commerical loan, is that more difficult to get financing, than a traditional mortgage loan??

Call WAMU and ask them if they ever reduce the balance.

I guess they will indirectly benefit by keeping the financial markets functioning and therefore still be able to get credit in the near term.I'd be surprised to see if anything gets in there allowing judges to reduce principal balances on loans.

I'm not an expert but I know some of the questions involved is how many units are vacant, how many are rented versus owner occupied, is it managed by the constructors or by a tenant board, status of HOA balances, etc.