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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (33144)6/11/2005 1:07:30 PM
From: redfishRespond to of 306849
 
Interesting.

I doubt the bank will let Brandon off the hook and look towards the partnership for repayment of the loan (if it did Brandon would have COD income of 45K or so), so the family member entering into this partnership has no debt risk in exchange for 50% of the property if the price recovers. He can walk away at a moments notice.

Not like investing with family members has ever gone wrong or
anything ...

In two years the family member will walk away when Brandon is far deeper in the hole.

I also wonder whether the bank will let them transfer part or all of the title to the property to the partnership ... looks like a series of promises to me, the partnership will have no ownership interest in the home.



To: John Vosilla who wrote (33144)6/11/2005 1:43:15 PM
From: bentwayRead Replies (1) | Respond to of 306849
 
I see those guy's situation as one that will become common soon. I think eventually those guys will walk, as will most of the speculators. Where do all the mortgages end up? What is the consequence?



To: John Vosilla who wrote (33144)6/11/2005 1:43:28 PM
From: bentwayRespond to of 306849
 
dupe


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