arm reset in october '07 and there is also a health hardship involved.

Hello Hung Nguyen:Keep in mind that many lenders will not accept a short sale unless all of the parties involved (buyer, seller and agents) sign an affidavit of "arms length transaction" stating that there is no agreement or understanding, written or implied, between the buyer and the seller that allows the seller to rent or regain ownership of the property in the future.

Your IRA is not prohibited from owning a property that was once owned by an ascendent or descendent of yours, as long as it's an arm's length transaction.

However, you can hold onto the property, lease it out to “arms-length” renters, build your retirement account with the rental payments, then take the real estate as a distributed IRA asset when you can take distributions penalty free (after age 59 and a half).

Those 5 and 7 year ARMS taken out in 2005-07 are resetting.

to my knowledge, and from what I have had explicitly told to me by those who have done this, the payments are processed by computers and minimum wage people, neither of which pays attention to where and whom the payment is coming from.

Desert Hot Springs in also know as the arm pit of the desert lol so...Are section eight requirements very strict does each unit have to have its own legitimate kitchen to use the place for section eight.

I would make NO assurances explicit or implied.

I wonder why my bank isn't welcoming my in with open arms even though I have a long history with them.  

Armed with that knowledge, you could make a better informed decision.