Agreed, but I don't want to bank most of my net worth on a low probability gamble if I can help it.It often isn't worth their time to go after the equity if they have to deal with paying off a bank loan.

So I am taking a big gamble on rates being lower in two years.  

I don't gamble in the stock market.Isn't part of it, that you can create generational wealth by investing outside of a 401(k) into real estate and pass those houses down tax free to the next generation using the stepped up basis?

If you don't know or aren't sure, it is a gamble.   

Its definetaly a gamble unless you have personal info on the owners, deceased, no heirs, in prison, etc. 

That’s gambling.

Otherwise it's just gambling anyway.

Here's why: Uncontrolled spending by the Fed Govt.

Of course the contractor could than get draw #2 on day 1 when they arrive with labor and/or materials per the draw schedule which should be part of the contract and itemized out with specific progress payments and what the payments are for (should be based on completion of specific tasks).If you continue your business with these gambles, do not be surprised when you get burned, you have been warned many times in this thread.

What you don't want to do is gamble ALL of your college savings and then end up without an education nor real estate.