One thing I'll add is that for your next participant loan, the amount you can borrow will be reduced by the highest outstanding loan balance in the previous 12 month period.

We purchased title insurance, and no outstanding balance or lien on the property showed up in our title search. 

I know plenty of people that don't make a lot of money that have outstanding credit. 

I have the serial number of the window and such, I don't need a contractor, just order me a damn window.How do I get the "privilege" to order from distributors?  

Las Vegas has enough advantages that a percentage of the expansions will be in Las Vegas, which will bring more people to the city, who will all need places to live.SummaryLas Vegas continues to be an outstanding place to invest.

It is the listing agents duty to maximize their clients’ bottom line, so damn right I’m going to let everyone know who has showed interest there is an offer before it sells at a discount. 

At the end of the day, any lender just wants to see that the current value of the home is is more than enough to support the current outstanding loan amount.Hope that helps.

. $5K means it better be a damn good deal. $2K is more like it.

I say damn the torpedoes, full speed ahead. 

My question is if I want to use these funds (the cash received = appraisal * 80% minus outstanding loan balance) to purchase property for personal use (primary residence), if that creates a taxable event?