It would mean a loss of about 7 feet of wire.

As the Japanese have since learned, recovering from a deflated credit bubble is a long and very painful affair.Governments and central banks on both sides of the Atlantic are pursuing a strategy of buying time, hoping that a recovery in economic conditions will allow our banking industry to re-build its capital base.

And owes so much money to so many people, I think he will never recover.

I would 3 way with Litton and RTR, and let the Loss Mitigator from Litton explain that RTR is only allowed to get $3,000.

You say you have a "partner", so your partnership arrangement should cover who profits at what percentage, as well who takes losses and who supplies capital (funding) and labor; everything should be given some value.If you need funding from hard money or private lenders, thenn you will need to use a financing contingency.

(Some more details: I am current on the mortgage but only because the tenant offsets some of my loss.

Got through that part, now someone in the loss mitigation dept says a part of the short sale package is a listing agreement and something allowing them to talk with the realtor.

No net loss in that case.

Then ask them how do they calculate the opening bid at the auction.Banks are not going to let the properties go for less than they feel it is worth minus acceptable losses (within reason=subject being less than the foreclosure costs, carrying costs, closing costs, REA costs, costs, costs, costs, etc.)

Unfortunately with leveraged investments, you can have to pay some of your losses to exit.Jon