options when little to no equity

[Dustin Gott]

I am getting lots of calls lately but many are under water or very close. I have been referring many to a short sale agent in the area. What other options are there for someone in this situation? Subject to I suppose but the loans are so much more than they are worth that the good interest rate still doesnt make it worth it to take it over. Thats all I can think of. What else is there?

[Bryan Hancock]

If the loans are only slightly underwater you can use a "wholesale owner finance" strategy. This technique has a lot of real risk associated with it though. This has been discussed recently under threads on Phill Grove's "MAPS" (mortgage assignment) threads. You may want to search through those some.

Short sales are likely the only option for bigger underwater scenarios other than trying to profit somehow from a loan modification / subject-to scenario.