We do have another offer outstanding with REO property so cash is needed for that as well.

@Kole Kingslien  Guidelines for land contract:- Payoff of Installment Land Contract Requirements When the proceeds of a mortgage loan are used to pay off the outstanding balance on aninstallment land contract (also known as contract or bond for deed) that was executed within the12 months preceding the date of the loan application, Fannie Mae will consider the mortgageloan to be a purchase money mortgage loan.The LTV ratio for the mortgage loan must be determined by dividing the new loan amount by thelesser of the total acquisition cost (defined as the purchase price indicated in the land contract,plus any costs the purchaser incurs for rehabilitation, renovation, or energy conservationimprovements) or the appraised value of the property at the time the new mortgage loan isclosed.

I’m searching for agents who are familiar with the Columbia county Wisconsin market.If you are or know of an outstanding agent with a bigger pockets mindset, please send them my way.Thank you and have a great week.

The condition however has deteriorated and it's a very old house, I believe it to be worth closer to $700K at the moment.A large and well known mortgage servicer was assigned to us, and they currently have the outstanding principal at $651K, but when I recently requested a pay off quote it came out to just about the same figure as what the house is worth, so, no equity.My mother is 80 years old and English is not her first language. 

We can typically model which loans are open and outstanding, and their balances.

At some point the reckoning of all those outstanding mortgaes and taxes are due - where there will likely be many foreclosures / short sale or other distressed situations on the market 

That would include all of your outstanding monthly payments that show up on your credit report, including a proposed housing payment versus your total income.

I go to the Home Depot there and jump back on the highway when I’m done.

.,.....assuming you can get at least a 90K  heloc - you can then  use  whatever amount of advances  you need   for  * down payment on rental * rehabbing  etc even though the heloc rate will be higher than the rate you can get on a cash out refinance - the outstanding balance that will be on the heloc  is realtively small  and thus  this rate  concern isn't that large

@Jo Zhou there have been some outstanding suggestions about senior services and veterans agencies providing resources or funds.