I check the box that says "may assign and be released from liability"Then for the end buyer he gets a copy of the P&S and signs an assignment addendum agreeing to the price we have negotiated.

I am interested in working the commercial loan modification business.Can /is anybody working with a commercial loan mod co, and making an income referring clients?

I'm 96% packed and living among a mountain of boxes!

Sometimes with duct tape all over the box.

. :)That said, go the cheapest route -- get a BPO or have your broker do a CMA.Just my inexpert opinion...The custodian fills out http://www.irs.gov/pub/irs-pdf/f5498.pdf - Box 5 is "Fair market value of account"

Find homeowners-Your website-Agents-Loan mod companies-Referrals-Door knocking/ door hangers2.Qualify the seller: give them their options; died in lieu, loan mod, foreclosure, loan workout, forebearance agreement, short sale. 3.If a short sale is in their best interest research the mortgage info, property & tax info)4.Determine the property’s value: run comparables ( state’s taxation website, zillow or team up with a Realtor to access the MLS) 5.Present an offer to the homeowner.

The "Updated electrical" could just mean a fuse box was changed out to breakers with all the old lines tied in.

Hey Mat,If they are political discussions, they probably got moved to the Politics group or shut down, either because the thread deteriorated into name calling or someone posted something against forum rules (like religious stuff).Any non-political stuff that goes away or gets moved is generally because the post belonged in a different forum or the mods determined that the post was spam or violated forum rules.

If an entertainer on a magic picture box selling ad time controls your whole political thought process you are indeed narrow minded.

What most people in undervalued homes care about is cost of living.Example a 200k house in your friends area rents for 1,500 a month.Your friends mortgage is 1,500 and his house is 80k underwater in value.He can go for a loan mod and get a reduction say to 900.Where if he let it foreclose he would have moving costs and renting elsewhere would have to put down deposits and pay much more money monthly.Not to mention where he moves to could get foreclosed on as well so there is no stability.A case where he doesn't need the space now and could find a much smaller space for a rental cheaper than the loan mod could make a case for a move.Example: Family had a home a parents got a divorce.5 months later father fell on hard times.Mortgage company wanted to loan mod him from 1,400 to 1,000.His children only visit on the weekend for one day a week.He ended up letting it foreclose and moved into an apartment for 400 a month still saving 600 more than the loan mod offered because the space was no longer needed.