That is if the hospital bill for his inevitable health issues don't bankrupt you first.

The guy that mortgaged to the hilt had a more robust lifestyle and has been bankrupt.

I know I will be taking some risk, but $2k will not bankrupt me if everything falls through, and I find that an acceptable risk here.What do I need to do to get the contract price lowered?

One way to be bankrupt using leverage is by buying the wrong properties or negative cashflow properties and you hope the property will appreciate.Another way that people get into trouble is by buying a turnaround property or repositioning deal.

Each time it went bust lots of folks went bankrupt.

If every property you buy does not, you'll soon run out of money and may eventually become bankrupt. 

If a foreclosure wiped out the property taxes owed every time for the city and counties it would bankrupt them and they couldn't balance the budget.

The states that have liberal policies such as California, with our high taxes and regulation are losing business and going bankrupt.

The other positive is that the builder has build over 1,000 homes in the area but went bankrupt during the downturn.  

out there who have bankrupted newbies.