Investors often tell me that they own a home, tenants left or are not paying their rent, and the property is not cash flowing (mortgage is more than the rental income). What is an investor to do? Most tell me that they have put in too much money to let the house go via short sale or foreclosure. Without knowing the actual financials of a situation, it is worth considering whether the time value of money makes a short sale a better option than holding on until the market recovers. To illustrate,… Continue

Finally, distressed homeowners and those looking to modify their loans are getting a chance to shake up the banks thanks to the US Treasury. Shock waves are rolling though the banking community as the Treasury Department causes fissures in the banks cavalier handling of underwater homeowners.

Complaining to the Treasury Department forces the bank to expedite your request for a loan mod because the Treasury Department can shut a bank down. Your bank can be fined and is quaking over the… Continue