It would be considered a refinance in spite of the fact you had never had a loan on it.

Obviously the irony is that the seller walked in spite of it all.From a cash flow perspective it would still probably work at $6k higher (albeit less than 10% cash-on-cash).

If that continues in spite of the economic malaise, I would be surprised.

Ollisha, (sorry, @ mention not working at the moment) although I agree with what Dion said above, I have a feeling you still want to know if there's a way to help your friend out in spite of the risk of strain on your relationship.A lot of this depends on the details.

I didn't want to offer over my parameters in spite of the extra activity, and it worked out that we got an offer accepted on a house that was being marketed by a relocation firm.Once our offer was accepted, we did most of the paperwork through email, signing what needed to be signed in front of a notary, and using Fed-Ex to deliver the hard copies.

Historically Dallas has very modest appreciation which is why the median price is only $140,000 in spite of a booming economy.

@Richard Rockwood  In spite of your lack of capital, I think it's great that you took action, even if it meant using credit cards. 

This will provide evidence in the future that you continued to make payments on time in spite of not being properly notified by the seller of a change to the account.

I came over to investigate, the house was 25C (~77F); six of the 10 storm windows were open 1/3 or more; two of the inner windows were not shut tightly and latched ... in spite of the fact I had closed all the storms windows 2.5 months earlier and warned them to keep them shut.

Not bad in spite of this, and maybe worth a visit if you don’t mind the drive or happen to be in the area.