If the borrower does not respond to the court action within a specified amount of time, the county clerk can find the borrower in default and the lender can ask the court to make a final ruling.

Some Banks Can't Foreclose, Unable to Find Loan Documents Bottom line: As a result of Judge Boyko's retarded ruling, not a single homeowner has been let off the hook.

(Due to the SCOTUS ruling in Grill vs.

Also, I've seen a lot of reference to the "50% rule" here on the forums.

Too bad I did not know about this website prior or I probably never would have made the purchase (did not have knowledge of the 50% rule for rental property).

Talk to people like those here until you get a good understanding of what you are doing.What I have learned with short sales is that there are no rules.

If Tim loves real estate--and it sounds like he does--perhaps he should consider teaching it and become an exception to the rule.For example, Duncan Wierman is a refreshing exception to the rule.

I have some horror stories here too perpetrated by poor rulings.

I know from her speaking engagements she proposes investors use a 35% operating expense rule instead of a 50% rule as a high level gauge for deals.

Do these rules apply to you or your potential buyers?