Hello, I have a SFH, two duplexes, and a triplex in Greenville SC area, and I'm working with a negative cash flow and I probably owe more than they're worth.

The mortgage/note are the instruments that say you owe the bank money.

I setup "bank" accounts for security deposits (physically held) and current liability accounts for the sec. deposits as owed.

The sum owing on the obligation secured by the Deed of Trust is: The principal sum of $74,518.95 together with interest as provided in the Note from9/1/2006, and such other costs and fees as are provided by statue."

I owe about $280k on it, but it should appraise for around $390k.

Or there are extra disclosure forms to sign, etc.Be very careful when acting as a principal.

Many of my former colleagues are now with other asset management firms and lenders across the country, and still practice the same core principals.

A deal here will mean you participated in a RE transaction as a principal or even as a broker/agent.How many deals did you touch in some way in 2006.

You are a principal in the deal and you are selling your position.Best to end the discussion here in the welcome thread and take it to the other forums.John Corey

I would suppose it would be easy enough to find out whether something is owed to them beforehand.Wow I guess I better do my homework on auctions pretty fast here.