Specifically:Will the lender only consider the rental income from the two legally zoned units, even though all three rental incomes are declared on your tax return?

.• That the deed is either a preferential or fraudulent transaction within the purview of the provisions of the federal Bankruptcy Act or any other related state law.• That the deed is a device to clog a mortgagor's right of redemption.• Unfairness of the consideration.• Coercion, fraud, oppression, duress, and undue influence.• That the deed is not subsequent to the execution of the mortgage but contemporaneous with it.• That the grantor/mortgagor was insolvent at the time of the execution of the deed.An estoppel affidavit (executed and acknowledged by the grantor/mortgagor, attesting to the fairness of the transaction, the consideration exchanged, the value of the property, and other factors showing an intention to make a genuine transfer) or a recital (inserted directly in the deed) are supporting documents used to forestall challenges to these transactions.State law and local title standards must be consulted in regard to the consideration and treatment of deeds in lieu of foreclosure.What a GREAT post!   

Forms they should have asked me for up front were asked for AFTER declaring my file as complete.

This means, on average, that this person is facing foreclosure or bankruptcy, and has no other reasonable options.

Any local bank that does this kind of financing should be able to approve you as long as you have a good enough credit score and never declared BK.

While I know this isn't a lot in today's market, I believe there are creative ways to make it work.I’m a former foster child who was declared independent as a teen, so I've been living with close friends that I consider family.

.- Strategic Partnerships: Building direct relationships with REO asset managers, bankruptcy attorneys, and bank liquidation teams can provide exclusive access to bulk sales before they go public.- Bulk Purchases & Portfolio Acquisitions: Banks and hedge funds often look to unload non-performing assets in bulk.

I also want to learn about purchasing properties with tax liens / bankruptcies / foreclosures.1.

(Or more likely that balance plus every late fee, penalty, escrow shortages, and anything else the lender can declare owed.)

If you want more detailed advice, I can provide it.You BEST option is to contact a bankruptcy attorney and find out your other options.