Maybe I could find a way to put down less and have some come from him for the high down payment and work out something creative?

One reason for this is the lenders willingness to work out a modification with HOMEOWNERS Notes Deeds Conveyed •The lenders taking back deeds this month are the primary drivers of REO sales within the Market •Expect more downward price pressure in high foreclosure markets where there is proportionately lower sales activity.

You will probably be apalled at the rehab costs.You will most likely need to pay cash for the house, unless you can work out a deal with the seller.

The government tells homeowners to contact their lenders for equitable solutions, but so far only a few hundred thousand workouts have been done.

So that means you're going to have to partner up with someone who can provide the cash and you guys work out the terms and conditions to your agreement.You're going to have to be creative (think outside the box) and come up with a list of ways that you can attain the necessary cash to get started.

Chase will work out a payment plan or extend the term of the loan or reduce the interest rate to make your payments lower.

I have been making all payments for a couple years and still can although it stings a little and I thought with the current credit crisis this might be a time to work out a creative solution.Thanks.

I am a full time PM and would agre with the other post that you meed to read your agreement carefully - but regardless they should treat you like a valbuale clein and communicate thinhgs early and offen - we work very hard at communications and it is a never ending battle - I would call and see if you can work out or terminate Mike

Wondering is anyone uses their own contracts (as opposed to a contractors contract) when hiring work out?

They have to put more money down in order to make sure it cash flows and they depend on appreciation or value plays to make the overall investment workout for them in the end.