Were you aware of all penalties that went with non-payment?

i am curently looking at a home....its been on the market for over a year the bank recently foreclosed on it, there tring to get rid of it for 150k and its worth 180k (as is)... 210k is the arv.... i have a buyer that this is the area were he wants to buy hes a handy man seeking a whole sale deal, somthing he knows he can fix up....anyways hes got financing ready for up to 170k the question i have is it possible to still do the deal with a conventional loan??

If he really want's to stay, he should call the lender and work out a payment plan on the back payments and penalties.

Here are the approximate numbers:Purchase house @ $25KCost of repairs = $40KARV = $90K to $98KI am seeking input on different financing scenarios that I could possibly discuss with bank/mortgage companies.

I also ordered the Rich Dad's Roads to Riches: 6 Steps to Becoming a Successful Real Estate Investor audio program and listened to it several times.Now I am seeking to further my education by asking questions and reading through all the information on these forums.When I'm not attempting to learn about REI, I love backpacking, hiking and camping.

Is there any penalties?

I've been approached by an individual who has several properties that supposedly is scheduled to go into ForeClosure within 30 days and is seeking help.

Investwell won't work for two reasons---FICO requirement of 575 & 2-5% down payment required depending on credit score...The other reference contains primarily LTV based lenders (the OP is seeking ARV solutions)---and the last reference is to another forum (which might be against forum rules for posting it).

They said they intend to seek jail time for McLeod.Pringle, who is sharing a room in Alexandria with her other two sons, 16 and 11, said she hopes the case gives desperate homeowners pause.

My first time out I only put out about 25 signs which got me a couple of calls from what seemed to be 2 heroin addicts seeking conversation about buying houses :groovy: My second time out after speaking with more experience investors was that you HAVE to do at the very least 100 signs at a time.