Its like im rowing away from the dock on a small boat into the middle of the ocean and looking for new rich land.

Better to get them out now...other secured notes, another house, a car, a boat, a tractor.Good luck...hope this helps and not confuses you.Kolohe

Carry this a bit further, let's say that some contractor buys a bassboat, a decent little $40,000 dollar boat and finances the boat.

Maybe it is their intention to rehab it - but if work has not started they are in the same boat as they were.I agree - put in an offer.

Yea i'm kinda in the same boat.

I have been looking at banks only, as they typically give you great rates...but having read the posts on here...it seems like I am completely missing the boat here.Many, many thanks!

It is on deep water with a double dock & a boat lift.It is hard to find large lots on the water that are in child friendly neighborhoods.I would live there for at least 10 years.primary residence.I would need 3 years to get my credit together for a loan.I could afford 1600-1700 a month.

I am in the same boat you are in.

I've never done any deals with a boat or travel trailer ILO cash down payment, buying bonds to secure financing, or any other especially creative way to buy and sell.

An umbrella means that your various loss exposures are all put under the same umbrella, not that you need a separate umbrella over each exposure.Unless you also have an umbrella over each of your vehicles and boats, I'd say you're UNDERinsured.Look at your net worth, assets minus liabilities, that how much liabilitiy insurance you need.