Open Question: continued from previous question/home equity loans?

I took over some seconds and there are some that are not paying. The property is all in California so with the market it is not worth it to foreclose obviously because the values are down. I am looking for some ideas to get payment on these. Worst case I can just hold the liens until the market is up and then take over. I can also put them in default to destroy some credit but is there any ideas to motivate people to pay? Could a collection agency be used that specializes in this? I was also thinking about trying to work with a local lender doing Fannie Mae loans to mortgage them out of their seconds. I am interested in things that will work in the shorter term. I figure someone might have some good ideas. Thanks For The Help!

Open Question: I've done my research but plan to utilize the expertise of a real estate agent..?

So the home I'm interested in was purchased earlier this year at 360K, but is now on the market for 260K. The original list price was 400K. I want to start my bid at 210K. Would my RE know how much they will profit? Should that really matter to me as the buyer?

If the seller are given a chance to sell or default or are forced to sell then does that mean I have purchasing power?

I realize that the quick sell may mean there is something wrong with the property or the owner may have unfortunately got caught up in the mortgage crisis.
I'm interested in all of your comments. Thanks.

Open Question: Can God create a mortgage repayment so big that even he can't afford it?

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