Dean, the reason I'm so 'cynical' is that I see it all around me, that tenants that are in rent controlled buildings can not see that they've had a 'good thing' for all this time, but feel that they're owed that they can continue to live for $ 800/month, when market rents are douple or triple that.

Don't know if Buddy has, but I have dealt with both PR's and heirs located outside the U.S.It used to be more of a hassle: for my first international deal I had to overnight physical docs to principal signer.

Currently, we provide the tenant with a copy of the bill and they pay us what's owed along with the rent, while we pay the actual bill when it's due.

Aaron, slight correction....NOI is calculated excluding (before) principal and interest.

I am not an accountant by training and much of the principals are based on accounting and GAAP.

Yes, but they are probably selling them because the properties probably aren't worth all the previous/ subsequent years of taxes owed, plus you'd have to pay all the additional years of taxes before you could send them to auction.

Sounds like they owe $110K with the late payments, so this is no deal at that price.Whatever they do it will be easier if they do it before they move out.

It's not that the private lenders want the profits for themselves, they want their Principal for themselves, to be safe.

I had just recently applied for a mortgage loan, but had not checked credit score in about 8 mths, however last time I checked score was a 705 on all 3 agencys, after applying I had only checked with experian assumed may be a little better, only to find out my credit score was 635 I have some school loans which I have missed some payments in distant past, have not missed a payment in 4 yrs only owe about 4800 left, 3 seperate loans required to pay 100 mth and I pay 125, and one other outstanding dept it is to a bank, for a previous closed account, which I owe 215$ it was from 09 for a 1$ overdraft which they kept billing me 30$ a day for a week before I was notified needless to say I was extremely upset and closed account, I know stupid I should of taken care of it and will as soon as posable.

@Aaron Mazzrillo - The Mile High deal - if it's the same outfit I'm thinking of, it was a Ponzi scheme and they sent the principals to the big house.