They countered with 715K :roll: The house was foreclosed on in November '07 and went on the market in April.

Closing costs were rolled into the first two.

:roll: So, this will be an interesting, and perhaps awesome or TRAGIC week in history!!

Most Short Sales have been hung in Limbo over the last month waiting for the Fed to roll out how they are going to help, the package passed, but hasn't had any action.This week the Fed is dropping their rate again along with the Money flowing in from the Bailout...Let's hope things are rolling again by Friday

:roll: I have to say that I’m have not been concerned about how much more prices will drop in order to do deals.

:roll: Thanks for your comments!

:roll: If you can hold/rent the property until the market starts to turn, you will get more for your home.

It rolls the renovations into the loan and it only requires as little as a 3% down payment in some cases.I've read a lot about the program on FHA and other sites so I understand a good deal of how it works.One thing I haven't come across is what the requirements are for being an "owner occupied property".

There is a system out there being sold stating that you can contact property owners who are delinquent before it goes up for the tax sale possibly buying the property for a token amount, assuming the taxes, recording the deed, & then turning around flipping it for a quick profit NEVER actually paying the taxes but rolling them into the price where it's still a bargain.Or buying the tax deed for pennies basically, recording the deed, then letting it go up for auction.

I didn't realize that I wasn't supposed to do that, but obviously I will cease that immediately!