And you get the benefit of having 40 past ones to catch up on.BiggerPockets Forums - A forum for every real estate investing related topic.

The catch in that statement is the use of the word "competent".

Good catch Bill.

Thanks @Joshua Dorkin I'm even behind on my daily Fantasy Football podcasts because I want to catch up with all 42 shows.. =) @Ralph E.

It is the 5% down that catches my attention.  

LOL, poking, you're not poking anything....Any agreement of any kind that requires any type of payment that has a security interest in title to a residential qualified property that allows any credit toward the acquisition of title to that property is a financing arrangement.Another "catch all" is any agreement made that appears to circumvent the intent of the Act.We have hit on this several times, maybe 25 times in related posts, saying respectfully that people aren't researching much.

And you get the benefit of having 40 past ones to catch up on.

Essentially the structure, if not properly notated in the note, will cause a portion of what should have been principal to pay for late fees and the prepayment does not fully catch up the amortization payment schedule thereby reducing the amount of principal paying down the balance over the term.

And you get the benefit of having 60 past ones to catch up on.Two Great reads, I bought both J.

And you get the benefit of having 60 past ones to catch up on.Two Great reads, I bought both J.