My husband remembered one from when we lived there and we just took it on good faith that the other one was also there.

You could save money by doing the same thing yourself, plus you have to have faith that once you transfer money to them that they will actually transfer your funds to your lender.bond marketUsually refers to the daily buying and selling of thirty year treasury bonds.

I agree with @Andrew Boettcher, you need to make a good faith effort, but not to take whoever they get.

Your analysis is child like.

(i) Buyer shall make mortgage loan application for the Financing within _______ (if left blank, then 5) days after Effective Date and use good faith and diligent effort to obtain approval of a loan meeting the Financing terms(“Loan Approval”) and thereafter to close this Contract.

The needs of the owner come before mine so in good faith I never turn a property over unless it needs it.

Can you work enough to make some payments on the loan to the relatives to show good faith in paying them back? 

If not you will end up as just another faith investor.With the value pushing up into the $600K range your rents are far too low and need to be ajusted upward or as I stated you will need to sell to maintaine the returns on your equity.Unfortunatly the majority of CA seemes to be a losing investment market for cash flow so inevitably you will need to either get out or heavily supliment your tenants rent out of your own pocket.

Do you just eat the loose of the good faith money or do you have another way of getting out of the contract?

You can do it......One book that really helped me is Credit Secrets from Scott/Allison Hilton, but again I'm sure you can find something on improving your credit on BP.Have Faith and Good LuckJoanne