So, I'd go that route.

Zac, Sandy Blanton is correct.

The land of a vacant mobile home pad is worth $0.The 60x (off city utilities) and 70x (on city utilities) multipliers of monthly rent are correct.The correct way to value a MHP is the lot rent multiple, plus the FMV for the individual mobile homes (not a multiple of their rent). 1970s 'beater' MHs might be worth $1,000 - $2,000. 2000-and-newer MHs might be worth $20,000 - $25,000.

You may want to contact your bank and find out about HARP , it's a govt program that if I recall correctly can eliminate the upside down amount on the mortgage .

But what I describe will give you the correct result and can be easily set up in Excel.

Have you considered going the crowdfunding route?

Long as you do everything correctly you are looking at a month to month and a half, 2 months max!!

Ben Leybovich, am I correct in this, or were you referring to something different?

It comes right off of the freddiemac and fanniemae websites I think it page 5 of freddies, fannies , i just use this handout attached belowhttp://www.freddiemac.com/singlefamily/service/docs/Short_Sale_Fact_Sheet_Pub_908.pdfhttp://www.realtor.org/sites/default/files/handouts-and-brochures/2009/fannie-mae-confirms-short-sales-commissions-policy-2009-02.pdfMaybe the term i used, illegal, was not the correct choice.

It's in my neighbourhood, so I just pass and take a look at what is happening (but it's not on my normal/daily route).