Also, what are the pitfalls to avoid when buying a short sale through the banks or a motivated seller?

pid=20601087&sid=a6p0Sot13ROg&refer=home The confirmation opens the way for the New York Fed to name a new president of the central bank's main liaison with Wall Street.

It's easy to find Benjamin Franklin quotes stating that the similar central banking system in Europe back then, which was being forced on the colonists, was one of the main reasons for the revolution.

There's also some provision in the IRS code to avoid this tax if you are insolvent.The lender (actually, the investor who holds the loan, which is most likely someone different than who you make your payments to) will indeed write off the bad debt.

We are considering using a lease to purchase or something of that sort, in order to avoid an extra mortgage payment.

There are no programs or options that will allow you to avoid paying taxes on the difference between what you currently owe and what the lender eventually nets.What if you offered it to an investor in your area?

What does the seller need to avoid bankruptcy?

I'm gonna ignore it and avoid responding... as that's not what this boards about....

My wife and I will of course get the benefit of learning from people who have "been there, done that" and be able to possibly avoid the longer learning curve and pitfalls of roughing it on our own.

Maybe you could try your hand at writing something to help individuals avoid the pit falls of procrastination.