Stop It… It is not working...

Since most of the bailouts consist of relableing borrowing, they are destined to fail.I think that the fact that the megacorps have sent all our manufacturing jobs to other countries and we now don't produce anything we use, means that we are in for some hard times ahead til the global economy levels out.

I decided to stop investing in the area that I live in and now I go WAY outside the area that I live.I don't care how good an investor you are, if a market does not favor cash flow, it does not favor cash flow.

You can also go to your local bank,open up a cd with about $1000...borrow against it and make on time monthly pymts.

One stop shop kinda thing. save you a bunch of cold calling. :)

Matt,The banks and trustees need to know that you have the means to do what you want to do.what I mean by that, is if you have proof of funds, and time is short,i call the bank and trustee and fax that, with my tentative offer or plan,and if needed i conference in the homeowner on those calls.the bank's last desire is to get the property back, and I've stopped the sale at minutes before the end of the day just before the sale...get a letter for proof of funds, and know you have a deal,and stay aggressive...these lenders are so overwhelmed with 'investors' that don't appearor sound believable, that sometimes their only change of demeanor will come by showing them the money...stay focused, and don't quit...

so you aren't paying much to borrow the money, so don't tie up $31k just to get rid of a payment - however, if you only plan to keep that $31k in a 5% or less money market for 30 years then based on a returns standpoint it could make sense to pay it off since your mtg rate is higher, at 5.8%.

If I had saved my money and paid off the one rental I'm now upside down in instead of borrowing to buy more (or even sold it when it skyrocketed to $500K (hope I'm not the only one that can say this :cry:), I'd have 100% income on the darn thing instead of minor negative cash flow.

Thats based on the amount borrowed.

Better to work out a repayment plan with a borrower who has some capacity to pay than to force a sale into a down market.