It's to bad we have people like this to surround us.

Applying for an OO loan when you don't intend to occupy would be bad.

I had mentioned auctioning the property and my husband laughed at me, good to hear my idea wasn't so bad after all!!

Is the old financing on this house too bad to want to hold on to?

Yes, you can buy cash in an entity, then sell the entity, and of course, you will owe taxes on the profit (speak to your accountant).I hope this clarifies your original question on this matter as you received some good advice and some incorrect/bad advice.

Isn't short sale bad for your credit score since you are taking someone else account and paying it off their?

Locally (SWFL) since Indymac was taken down, their Lis Pendens filings are up, I guess Sheila Bair found the closet full of bad paper, they were hiding

Compared to taxes in Bucks in the 3-6K range annually.West Philly is only a 40 min. drive so it's not that bad.

It really wasn't that bad.

As a residential real estate investor, you could give a free seminar about topics as wide-ranging as “How to Sell Your House for Your Price in a Down Market†to “How to Buy a House with Bad Credit.†The key here isn’t to directly market yourself.