The most serious thing for me was going to college, not that is mandatory, my parents wanted the same for me.All that I really cared about was where the next joint was going to come from.  

In other words, if the borrower had $300,000 of debts before the short sale (including mortgage, 2nd mortgage, car loans, credit cards, student loans, accrued tax liability, loans from parents or IRA, everything) and only $200,000 of assets (including FMV of home as determined by the short sale contract, equity in vehicles, so-called "sticks and stuff" being the total of all routine personal possessions, and value of retirement accounts) the the borrower is $100,000 under water or insolvent.  

According to the handbook, there are several exceptions to the rule:  occupancy by a dependent (maybe a dependent parent?)

It is higher initial cost but each subsequent LLC under the parent is only $50 or $100 expedited.

Hi @Derek JohnsonReally just relaying information (along with very minimal experience on my own)..I think you should keep in mind that getting parent guarantors doesn't guarantee yourself the situation is going to headache-free.

I simply don't have the micro management .. plus with the way the world is you cannot hide were you live.. all someone needs is lexus nexus and your name.. and boom they will know where you live where you parents live your siblings etc etc.. only way you can keep this from happening is to never have anything in your name utilities included.. but even at that you can be found. 

The goal of the spouse formerly earning $90k (maybe $25k after taxes and daycare) is to gobble up enough RE that there are over $25k in tax savings, meaning buying RE is more profitable to the household than going to a day-job earning $90k when your spouse is making $10m, and a parent gets quality time with the kids to boot.Next is net loss carryover. 

The funny thing is my parents were real estate agents when I was younger & they use to bring me to all the houses and there single family rentals & I use to HATE IT .

In this particular one it was owned by a family member and I had one of the 2 owners give up there share as a donation, so I was able to get it for a steal.

My parents are Air Force vets. :)