Does anyone have anything they have used as a template for this type of situation that acknowledges the debt is due to damages and accepts responsibility and is legal in Ohio?

My fiancee and I are both recent college grads and we are wanting to get our start in real estate, but we have a considerable amount of student loan debt and some credit card debt as well.

I agree with the no to the boat and while I am usually fine with tenants finding significant others and moving them in (as long as the occupancy numbers are safe), this one sounds like a gambling debt coming in hot after a night in Vegas.

If you are doing a value-add play, local banks and credit unions usually have minimal pre-payment penalties when compared to agency debt and allow you to choose a 5 or 10 year term.

Mainly the whole idea of a bank being able to foreclose on a property/debt that they are not getting paid on, sell that property to me to clear themselves from the less then desirable situation and then we find out that the foreclosure might not have been done right but, in the meantime my hard earned money that I have saved up my whole life and the equity I have built in my primary property (Heloc) to be in a situation where I could buy a house cash is locked up in a legal loophole but I still have to pay the water bill, property taxes, interest on my heloc all the while the person who has not paid their mortgage for the last 2 years gets rewarded by not having to pay it for another year.

Those with low to no debt generally have a lower CoC.

My wife will be going to Commercial flight school with goals to be an internationals cargo pilot but at the least an international passenger pilot and once working her entire salary will be poured into investing along with about 30% of my own income which is what I am using now build up a down payment while also paying down credit card debt and trying to sell truck.

Agency debt, Freddie Mac.

Agency debt, Freddie Mac.

I am not as concerned with medical or college debt but if you can’t pay at least minimums on credit cards and your car note you are much higher risk.