The ex-wife has talked with the bank about doing a deed in lieu when the time comes, but i don't think that is allowed with deed in lieus because i think that only works as your primary residence as far as I understand and even if it did i think the amount would be taxed as income so she'd have an unexpected tax bill.The house is under water.  

What I found was that the past 3 houses he sold (he moved his primary property as he migrated further west with his job) were all seller carry situations and he would by the next place with cash.

Where this will not be my primary residence I am assuming that this is not going to qualify for an fha loan.  

Hi all,Can/Should a homeowner with housemates claim the income (rent) and a portion of expenses (landscape maintenance, cleaning service, utilities, home repairs) on taxes as a business expense, if it is the homeowner's primary residence?

I have about $300K equity in my primary residence and $550K in my rental.

If one puts their primary residence into a revocable living trust for the purpose of estate planning (which, by the way, according to my attorney meets a federal exemption from the due-on-sale clause as long as you remain an occupant and it's for the purpose of estate planning - in my case, to avoid probate if I were to pass prematurely), what about the protection on personal assets?  

If your primary is cheap then you should have enough income to finance them. 

We love it here in California, but do not think it's appropriate to buy here, since I could get multiple income generating properties for the amount I would need to purchase our primary residence here.  

Until interest rates start rising, or there is a huge downturn in the economy resulting in massive job losses, Canadian banks and lenders will continue to fuel the real estate fire - by dishing out loans on extremely overvalued properties.  

I usually tell people to buy themselves a primary home first.