You also run the risk of having this HELOC outstanding for a long time.

The outstanding mortgage prior to the foreclosure was $215K, and the house has been vacant for 2 years.Paying full cash is out of the question.

The state where you Invest will pretty much dictate whether or not you can earn interest on your $$ (which is ALMOST nationwide) or whether or not you can buy a property "Free & Clear" - in that state.

I also invest in commercial properties nationwide.

The outstanding balance owed on this judgement is 322,442.From what I can see this person owes no other mortgages on this property.It appears that this person or a contractor was able to access this home and rip out everything.What should be our next step?

The point is that in Nationwide's own listing, he's at 50% IF YOU INCLUDE ALL THE EXPENSES.

I was also wondering, is it possible to list on a nation wide MLS?

I am surprised that there is not more nationwide interest in this HSA for RE topic yet.

`(b) Purpose- The purpose of the HOPE for Homeowners Program is--`(1) to create an FHA program, participation in which is voluntary on the part of homeowners and existing loan holders to insure refinanced loans for distressed borrowers to support long-term, sustainable homeownership;`(2) to allow homeowners to avoid foreclosure by reducing the principle balance outstanding, and interest rate charged, on their mortgages;`(3) to help stabilize and provide confidence in mortgage markets by bringing transparency to the value of assets based on mortgage assets;`(4) to target mortgage assistance under this section to homeowners for their principal residence;`(5) to enhance the administrative capacity of the FHA to carry out its expanded role under the HOPE for Homeowners Program;`(6) to ensure the HOPE for Homeowners Program remains in effect only for as long as is necessary to provide stability to the housing market; and`(7) to provide servicers of delinquent mortgages with additional methods and approaches to avoid foreclosure.

Being that Chase is nationwide, he said he can close mortgages in any state.