The way I see it, common sense is becoming clearer and clearer, and the next wave of millionaires are being launched today.

Even without the threat of the government or some judge changing the loan, there is a wave of anti-foreclosure and anti-eviction actions sweeping the country.

You lock in your owner financed rates and ride the wave.

1) Thinking about buying Vacant Land in Illinois for around 20-30k, and why Vacant Land is that I don't have to pay as much taxes (cheap to maintain)and so that I can ride this Real Estate Wave.

From the analysis on NPR this morning the new wave of troubles is not the people with risky mortgages it is the UNEMPLOYED people who are now out of cash and unable to pay.

Do you lock into hard assets like RE now and hopefully ride that wave of inflation?

If you are going into foreclosure you must negotiate with the bank for them to wave the deficiency judgment and sign off on a 1099-C which will absolve you of the difference in what you owed and what the property sold for at auction as well as your tax liabilities.Best, Lee

These buyers waved all inspections except for the appraisal.

By the way, no cracks on my home....I was advised to give up my first buyer, who waved an inspection for this?

Waves in roofs can be something as simple as the underlayment being installed with staples and has come loose.