A Realtor has a listing where the sellers had to move for job reasons, they purchased another house in the new location, and now can't afford to carry two mortgages.

Consider this...you contract a short sale...say you get an option to purchase...previous homeowner moves out..maybe they move on and go rent somewhere else..or take a job in another city.

I would not quit my job until I have bought and sold at least 5 properties.

I got estimates of up to $150 + to do the job.

I am about to take a contractor job overseas but I am thriving to purchase some properties that I can hold on to for a little while.

Good job

5) Who will be in charge of updating the siteI'm not a huge fan of in-the-box solutions unless it saves me time, money, and gets the job done.

Great job on the letter, too!

I agree loan mod's do not work, first of all most are not "modifing the loan" what they are doing is lowering the interest rate and payment and making the rate fixed for a priod of time (2yrs, 4yrs or even 5) the majority of this loan mod's the principal still stays the same so if person owed 600K on thier home they will still owe 600K at the end of thier agreement, now what about property taxes as far as I know you can not "modify property taxes" when a lender agrees to a loan mod. they will now include an escrow account and the homeower will now have a much higher payment with a new lower interest rate, what does this mean to all of us more short sales, now one thing I have not seen discussed here is the Mortgage Relief Act this is very important to keep in mind, according to the IRS this will end on December 2010, so let's a homeower can get a loan mod in 2008 and he loss his or job in 2011 the IRS says now you will get a 1099 for difference of what you bought to what the bank took it back at, what does this mean the howeower would have been better to have completed a short sale in 2008 so that could qualify not to pay taxes on the 1099 they got.

More and more, we have a boomer economy where people move to where the jobs are.