The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like private corporations--possibly leading to some confusion about "ownership."

Explicitly state that the contract IS assignable.

I would guess the mortgage was one of those slick ARMs and who would even get something like that unless they were mislead by.

A mentor would be the shot in the arm you need to help you get into real estate investing with a full motivated mind to succeed.If you can find one that can teach you the ropes that would be a goldmine.Good luck.

Without an armed citizenry, there is absolutely nothing to stop the government from becoming a dictatorship.

Surprise.....Black Panthers standing in front of polling places and armed with a night stick - and here it is on video.

Generally, pre-payment penalties (if you pay the loan off early) only apply to those ARM (Adjustable Rate Mortgage) programs.

If real estate agents don't like how NAR wields such control over them, they should get together and find a solution.States license people to sell real estate and as far as I know, do not mandate membership in NAR, however, without the marketing arm that is the MLS, people had little option in the past.

I suppose if you have lots of problems with the house and have the money for several $50.00 copays then they could be a good thing, because electricians, plumbers, etc all charge an arm and a leg just to come out not to mention the $75.00 an hour the charge; so I guess it depends on your circumstances.Susan

The risks he points to are:1) Borrowing Too Heavily2) Selling your property too quickly3) Using ARMs to get a cheap loan - using adjustable mortgages in a rising interest rate environment is a dangerous formula4) Not having a plan for financial emergencies such as medical emergencies5) Skipping a property inspection because you just have to get the deal.