If my own business dries up, I don't want to have massive amounts of debt to the point my back breaks.

Illinois may or may not have passed legislation on this.Subject tos can be done and depending on your market, they may actually get a little easier to do because conventional financing is drying up and owners are about to realize that they need to supply financing if they are going to get their houses sold.

This stuff has no shrinkage as it dries (insert shrinkage joke here).

A few things you'll like to know: What was the source of the water damage, is it dry,was it repaired, and was the damage properly addressed according to industry standards (S520 standard andreference guide for professional water damage restoration).

I guess if I pay as long as I can, then they see there is no money left in my accounts they may accept it or I will stop making payments because it has run me dry.

All people can do is speculate.My guess: The bailout should preserve (temporarily at least) credit markets so lending won't immediately dry up, which should keep the housing market alive.

I agree that these things are just bleeding us dry.

Many of the homes in my market are selling for 20-25% of their previous highs, leaving over leveraged investors out to dry.

If you take the dry real estate classes offered by a community colllege to get people to be able to pass the real estate exam for a license, you might just get burnt out before you get started.

It is pretty cut and dried.