The counties have made sure that you have to disclose where the overage is and the exact amount, and that they don't need you to act as their agent, thus rendering you useless to the former homeowner.

I think that's exactly what will happen.

That's why attorneys make so much money drafting partnership agreements--no two are exactly alike.

My suggestion is to offer up exactly what you WOULD have paid if someone else was doing the work.

Short sale is not an option for him as his primary motive is to protect his credit - which he needs for other purposes.

You should be able to explain the situation to someone and find out exactly what you have to do.

You've got an opportunity to realize profits right now that would take 8.5 yrs to acquire otherwise.It should be noted that this is the exact strategy of many very successful investors.

Due to fha guidelines this income is not included for debt to income purposes and therefore im only qualified for 125k loan with 20% down.

You are competing against dozens of others doing the exact same thing.

Bill Gulley, I spoke with an attorney today about this exact topic.