What if the REO doesnt sell right away, he wont get paid.

The decreased bond asset value destroys the bank's liquidity and prevents it from issuing new loans.

When figuring the gain, reduce the adjustedbasis of the home by the amount of the credit.c If the home is destroyed, condemned, or disposed ofunder threat of condemnation, and you acquire a newmain home within 2 years of the event, you do not haveto repay the credit.c If, as part of a divorce settlement, the home istransferred to a spouse or former spouse, the spousewho receives the home is responsible for repaying thecredit.c If you die, repayment of the credit is not required.

then send him to motivational classes or courses. your money will be much better spent that way and he will thank you forever.instead of having to give him incentives, when he gets back he'll give you some.if he wont go, then fire him.jeff

I am new to this and wanting to buy my first rental house, there is a foreclosed house close to me that is in a great location within walking distance to most places, similar houses rent for 750-800 a month the house i looked at is 60,000 i looked at the last time this house sold which was in 2006 for 131,300 its a 3bd 1 ba with a .35 acre lot (which is big for being right in town) i figured that i wont need to put more then 15,000 into it, So does this sound like a good deal?

we've tried it for really low end properties and have had good results. you wont get alot of responses but the ones you do get should be quality.its probably more effective if you have multiple properties and can cross sell if the one on ebay isnt what they wanted.good luck

That would be like both of you claiming the same dependent on you tax returns, it just wont fly.As for subject 2 goes, just put "sub 2" in the search box at the top of the forum page and hit send.

Jon, wont the points plus the closing cost eat up a ton of savings and drag it out several years?

At times I have gotten properties three or four months down the road just by taking 1 min. to see if it is still around and re-submitting my original offer.Anyway - if your top dollar is more then $550 then I would come up - if you offer $550 you will prob. just be shut down - which is fine if you don't come up - but if you have room to move then show some good faith and move.Remember - just because my experience says offer substantiation doesn' hold much value doesn't mean it wont for you - so go for it - just helping managing expectation in the right direction .

I'll need financing at some point, but most of the properties are under 100k, so getting 20% down wont be too bad.