They lose their home, but I think there's a great chance that they're going to call that real estate agent in a few years when they're ready to take another trip down Home Ownership Road.

Are you ready to be a landlord?

I went to the BBB and it seems that they want to help protect their paying businesses rather then protect the consumers.

The IRS is pretty clear that you cannot rent from yourself or your spouse and I think a judge would look at the asset as clearly a liability protection scheme (aka not running as a legit business), pierce the corporate veil, and not provide you any protection.It's fun to start LLCs, but it's also expensive and time consuming to maintain properly (separate accounts, K-1s, 1099s, accountants...) just to provide liability insurance.

I'm talking about the future bailout of the average consumer.

I've been investing in RE for well over a year now, and have had 2 properties that I've been relatively succuessful, a SFD property bought as a REO , repaired cheaply and increased equity by 40% and a 6 unit apartment...

By mid term of the 4th QTR this year, this will all be done and ready to start the new yearThis has been in the planning for a while

Soon I expect even submitting a short sale package will require a check for the full amount to be held until the lender accepts the offer.This is great news for those with good sources of ready funds that don't require any kind of approval in order to use them.If the bailout is approved in the next couple of days and signed by the President as promised this week.

I just wanted to be ready when they do.

The taxing authorities have every incentive to drag their feet on valuations.I'd predict many taxing authorities have adjusted their budgets to consume all the available revenue.