However, any consideration which is not reasonably attributable to the granting of the option, such as consideration payable by the recipient of the option for the use or right to use the property until the option is exercised (whether pre-paid or by periodic payments), would not be consideration for the granting of the option and, therefore, would not relate to the "sale" of the equitable interest, but rather the right to use the property.

You'll need to set up the following new accounts:Asset Account - Escrow at new company (I set my escrow accounts up as bank accounts)Liability - New Mortgage Payable.Let's assume the following balances before the Refi:Escrow account $500Mortgage Payable - $100,000.Long Term Asset - Property - $110,000Let's assume the following balances after the Refi:New Mortgage balance - $350New Mortgage Payable - $130,000Cash out $28,000Closing Costs and Escrow - $2000As you go through the Settlement Statement, you'll pull all of these items out and put them in the following journal entry:Mortgage Payable -      debit    $100,000New Escrow Account - debit   $        350.00 (You'll find this under the settlement statement, usually labeled as so many months of prepayment of insurance and property taxes)New mortgage Payable - credit -                       $130,000Cash/Checking Account   debit   $28,000Loan Amortization Costs -       debit           750.00           This should be only a fee paid as a percentage of the loan.  

They only take cash, cashier's check or you can use your debit card for a $2.50 transaction fee, I believe.

At lease signing, the binder is treated as pre-paid RENT and has nothing to do with a deposit.

IndyMac Bank's assets were seized by federal regulators on Friday after the mortgage lender succumbed to the pressures of tighter credit, tumbling home prices and rising foreclosures.The bank is the largest regulated thrift to fail and the second largest financial institution to close in U.S. history, regulators said.Yahoo FinanceIn the biggest bank failure of the housing downturn to date, federal banking regulators today closed IndyMac Bank FSB, naming the Federal Deposit Insurance Corp. as conservator.The FDIC said it will transfer insured deposits and "substantially all the assets" of IndyMac Bank, to a newly created successor, IndyMac Federal Bank, which will be operated by the FDIC.Insured depositors and borrowers will automatically become customers of IndyMac Federal, FSB and will continue to have uninterrupted customer service and access to their funds by ATM, debit cards and writing checks.

Because I want to pick a system and be done, I am not back into shopping mode because I dont want to use whats left of my prepaid year with buildium only to have everything worked out and switch next year.If I lose my prepaid year, so be it.  

I have only heard of that happening recently because the buyer bought a new car or was late on some credit card payments just prior to closing.I have had quite a few people come into my open houses hoping to qualify but they have car payments, credit card debit and they are self-employed so can't support the payments with their declared income.

Does anyone take credit or debit cards at this rent level?

I always suggest to my clients to get pre-qualified by both.You can ask up to 4% of closing costs, prepaids, and reserves be covered by the seller.

If you pre-paid, then that may be another story.After all of my years in the business, I don't have a good eviction attorney yet.