Protection from the government: MONEY, LAWYERS and GUNS.

Here's the details : two mortgages for $78,000 totalARV $120,000 repairs around $10K $3000 behind in mortgage payments$1000 in lawyer feesPossible options :Ask seller to do a loan mod to reduce sell price and stop foreclusureSell at $78,000 and try to make a profitIf I reduce the sells price the profit margin increases so I want to do a loan mod.

Most investors want nothing to do with such things.You will do better if you find an investor who has a legal background (retired or active lawyer comes to mind).

My lawyer is not great and he is just glossing over things with me and asking me not to ask him what's going on.

some of her neighbors were going into a class action suit against the builder. i suggested that she retain her own lawyer, get them to buy her house, and some extra on the side just in case.....she was soooo quick to just sign the lennar docs to have them find her the other house and move her stuff in until her house is gutted and fixed. thats it....just getting it gutted and fixed....not enough in my book!

Thanks a lot for all the replies.I would prefer to be in areas where Indians have are already purchased properties, since there it will be easier to buy as real estate agents, tax lawyers, rental property managers will already be familiar with foreign owners and their issues.How can I find out about these areas?

The buyer got a loan from the Jamaican housing authority (Something equivalent to HUD but three times the bureaucracy) and since there is no such thing as escrow, (Each side must chose a lawyer to carry his/her affairs) The lawyers and the housing authorities can drag it forever.

2) It would be best to discuss your situation for a lawyer to know your needs and get good advice.

We (agent, lawyers & client) forced the escrowee to execute Para 26 a).

Demand for properties in alternative locations may dry up very quickly, leaving you with an unwanted asset that you may find challenging to sell if the market turns sour.Factor in as well that unless you travel often, you will have to rely on trusted local partners such us property managers, lawyers, etc.