John, When negotiating the short sale you have to ask the bank to release the homeowner of all further obligations so they don't get 1099.

I won't over-extend or over-leverage myself.I'll do my best to keep my good tenants, but that attitude ends when the rent's not on time.

He should have released the book when he had the BUZZ.http://www.alternet.org/blogs/peek/129297/take a look.

You could offer to have them give a release of lien freeing the property of the second and still giving them the opportunity to go after the debtor via other avenues.

If you play with the term, interest and downpayment enough you can make almost anything sound good.In your realtors example he uses a very long term and low interest rate to make the case... problem you'll run into is that interest rates are currently at historic lows and can't really get any lower, and you can only lock into such low rates for limited time spans.Eventually the mortgage will come up for review, and you'll be faced with higher rates, and even just a point or two higher severely changes the bottom line because of the extended term you'll have so little equity for the first 15-20 years.

I have most of my extended family living in MPLS and St.

I pulled down the latest release, as well as the BLS inflation data.

If your using a real estate agent chances are that your not going to be able to negotiate directly unless your agent has had enough sense to get an authorization to release information from the seller and seller's agent.

How is the estate able to sell the property and not release the lien?

unless I am reading my note incorrectly but the payment is 1543.68 on a orginal balance of 146,000 fo a 40 year note with a balloon payment of 106,000 at the end and I see three intrest rates listed 7.9, 11.49 and 14.9 and my payment changed 3 times during the course of the note to reflect this. so far the bank is considering extending the lowered intrest rate but that is not for sure and they can't tell me how long for.