In another situation, two or more properties are pledged as collateral for a loan where a loan might not be viable or as a function of reducing the lender's risk or as a function obtaining more favorable terms for the borrower such as a higher loan amounts, cash out options and perhaps lower interest rate to name a few.

The agent will facilitate the short sale, and if the bank approves, you can buy the property at the reduced price.Probably a good idea to create a relationship with an agent beforehand, and agree that this is how things will work.Also, be forewarned that many of the big banks have stipulations in their short sale approval letters that say you can't resell the property for some period of time -- for example, Wells Fargo requires you to wait 90 days to resell and Chase requires you to wait 120 days unless you do substantial improvements to the property.

And I'd wonder why you wouldn't want to reduce your liability by doing so.Second, what happens if you don't pull some permit and it results in a tenant getting injured or killed?

John Chapman, I have more knowledge from what you posted (thank you) and I expected varying responses at the question was fairly open ended.But you bring up another point that I never considered: Get a property that needs lots of repairs - to reduce the risk of appraisal issues?

Is the original amount of the Lender A's 123 senior lien now reduced in any way by this counter claim?

Hi David,What area do you think you will be able reduce your expense on in a few years?

One is based on whether or not the owner takes the "homeowner tax exemption" that is common in many states and reduces property taxes on owner occupied properties (not by much though).

Some may plan on buying but never happens due to death, divorce, relationship breakup, job relocation out of the area, reduced income, loss of job, credit issues, family growing (baby) needing more space then anticipated, health issues, etc.You can't control what happens in people's lives but you can be consistent with the follow up and getting better at your craft.

They can contest this and judges sometimes have sympathy and reduce damages so it's not as good as the promissory note.

With keeping up with all the various REO sites and properties listed on them, and monitoring particular properties that go from Listed, to Under Contract, to Back on the Market , Price Reduced, etc....