I can see the OP giving this a shot.. but it is risky he could end up making a few bucks and getting experience might just break even or he could take a loss.. that margin is very thin in markets that are not selling as soon as you get CO  thats been one reason we have been profitable very few homes have been carried past CO so financing cost are at a minimum.. you hold a spec home 6 months past Co and every month your losing money you will not recover.

They didn't extend loan maturities because they were looking out for borrowers--and the moment they feel the market is strong enough for them to liquidate the asset they will foreclose and/or force a sale to recover as much principal as they can. 

I agree that we move on and focus on recovering the lost money and not loose faith in ourselves or legitimate partners. 

If the reason they ran out of money was due to an unforeseen circumstance and they have a path to recovering, it may make sense to send them more money.  

But when a template lowball offer comes in (not sure what it's supposed to do beside tick off the seller) You won't be able to recover from your first impression. 

So, we hope that the area can soon recover but it looks like a lot of the owners will be converting.  

He claimed that they had properties ready to sell to me and the 10K was to recover their costs on work that had already been done to prepare the property for me. 

We've never recovered a thing, although I hear one guy got arrested.STR could be a disaster for you. 

Apparently they're still looking to recover revenues lost from the Hoover Company. 

Generally, the builder will also own the mortgage company to recover some of what they give up in credits via the profit on the loan.