They are acting as an agent without the laws, ethics requirements, education, and insurance that are vital IMO.Ask yourself this: if a property is REALLY worth 100K WHY would they sell it for 70?

So vital people do this, look at them every day, rewrite them every day and have a plan of action to make each come to fruition. 

This is worth $400 from Russell:“...make some sort of request for modification in writing, the contract then becomes open for negotiation, which could allow the buyer to bail altogether, or maybe make their own requests...”

Most loans have a repair or renovation modification. 

I may be missing some vital numbers but will provide what I have at the moment:2400 Sqft, Townhome, 3Br, 3.5 Ba, 1 Car garage, DeckPurchase price: 360k Comp Sales : 390kDown Payment : 90k (98k Closing costs)Rent-o-meter for this neighborhood : ~$210010-15 min commute to Reston, VA, (an up and coming tech hub in this region), Realtor says its a "great area".Monthly Payments would be $1700 after taxes/insurance/hoaI thought $400 was a decent positive cash flow, but I failed to factor in vacancy, and other costs.

Many have argued/claimed here on BP that cash flow on residential properties is of vital importance and investors can not put food on the table with appreciation.

--The banks have done a wonderful PR job telling us about their concern for homeowners but a totally inept and irresponsible job of doing meaningful loan modifications.

Originally posted by David Breitzmann:Here's where knowing a neighborhood is vital: If you can show that the market is turning and the average DOM is climbing it may be appropriate to view the 2005 price as appropriate.

They very well could be (and in my experience, usually are) a borrower that has slipped in the past, and become current again through either a loan modification or BK.

Our society has deemed it necessary to protect the public welfare by passing some laws.ONe of those laws is that no one can make significant modifications to a property without being properly licensed and insured, allowing the public to have recourse against fraud and inferior construction.