It was just an idea and I am contantly assesing outcomes after the ideas.

Unfortunately, things are not always black or white — different folks may have different experiences which can yield different outcomes.

or you were absolutely certain the property will sell for less than your un-depreciated capital costs {not typically the outcome we desire when selling}.The reason for this is that the CCA (read: depreciation) will be recaptured at the time you sell the property {the delta between the depreciated value and the un-depreciated capital costs or the sales price (whichever is lower)} and added to your income for that year.If you hold the property in a corporation, the corporation would typically claim the CCA since passive income in a corporation is taxed at the highest marginal corporate tax rate; meaning the tax rate at the time of sale will be the same, so you may as well pay those taxes using tommorrow's dollars than today's.

The two youngest are still in grade school so we will see where education is when they reach this age.The main thing we've done is drum into our kids heads that graduating with the least amount of debt is the most desirable outcome and for the most part they are all doing well in that area.

However, what I haven't expected is no return phone calls and responses from their websites.What I'm getting at is don't predetermine the outcome of those contacts and potential sellers, even if they are underwater.

SO my thoughts were to take Equity out and pay off my CCD and start looking for another house.I am talking to Compass bank about a HELOC but am not too excited about the out come.

Best of luck on the outcome.

This will help you feel more in control of things, and more importantly, will help you strive to actually control things.Whenever I get upset and want to blame someone for something bad that happened, I think about what I could have done differently to affect a better outcome.

You may want to check with the city, county or village of the areas of interest.Please let us know the outcome.

I am ready to change the outcome of my life by investing in multi-family units with the buy and hold strategy.