You can search the forums, like the related posts shown below to see why new federal laws apply to this area.

Unless you can actually buy, as in a cash sale or know darn good and well you can get cold cash, you should avoid anyone who has received notice of foreclosure as that is when new federal laws kick in as to "helping" owners or interfering with banking operations.

Also, keep in mind that federal fair housing laws don't apply to an owner-occupied 2-family like they do with every other property (including owner-occupied 3 or 4-family units).  

Even if I did, the most significant resources in that area are prohibited to me by federal law.  

I currently live a few hours south of you, but did live in Federal Way years ago.  

And the Federal government has their hands tied.

Account ClosedIt will all depend on the long term path of oil prices and how much additional stimulus (read handouts) are given by the AB and federal governments {though they have perhaps learned their lessons in that area}.The real estate market was/is extremely frothy and over valued.  

I will be able to drop my payment by roughly 100 dollars a month.I thought the federal guidelines on this was 80 percent.I think I could meet the appraised value criterea but would like to wiggle out of this expence if possible?

That's federal poverty level income for a family of 4.  

Depends on the note as Jay mentioned, non-judicial states will be quicker but federal laws require notice, demands, collection records, modification allowances, redemptions and 120 days before you can proceed.