How long do we have to get this deal together before legal foreclosure action occurs?

I would never want to put anyone in this situation and feel horrible that it occurred.

It will be interesting to see what changes occur over the next several years.

That's where your "stigma" will occur.

The same disconnect occurs when talking percent based on UPB, where if I told you I wanted 90% of UPB you might think I am crazy and that is too much, but if the property has say 50% equity the story is a little different.

This will occur sometimes due to the seller's agent attempting to get some offers. if the home is not really worth their current "firm price" then the market will show that by other offers coming in lower or no offers at all.With a lower list price, the selling agent can show the bank that the current market value is lower than the price they want.There are bno forumulas for pricepoints below ask prices, the ONLY number that matters is a price that makes you money.

Say you get into an accident with your personal vehicle and injur someone.

It's overpriced junk.Remember banks can be unrealistic sellers at first.They get misleading appraisals and bpo's.Wait until a bunch of mark downs occur and look at other properties in the mean time.

Also they told me that even if I wanted to have the utilities turned on to have an inspection for my own peace of mind (even though my $500 deposit would still be non-refundable), I would have to pay for a liability policy in case a flood or something else occurred when the utilities were turned back on!

When these threads occur on BP, I often wonder the same thing.