Documentation.

If you can document that extra income, you should be okay, but only the bank is going to be able to answer that for you.

He showed up to the closing and we signed the documents with 10 mins to spare!

Google "old ammunition" because anything with explosives in it can sometimes become unstable with age.I've seen a couple of news reports over the years where people found old sticks of dynamite in their home (put there before people understood the risks involved).

In most states it gets flagged by something called Lis Pendens which is a legal document that the bank is sending to the borrower saying you haven't paid your mortgage and we are moving forward with the legal process to foreclose.

There would be no taxable gain in this situation and I am still able to claim my deferred losses.Eamonn - please document this rare occasion when we're in agreement  :)Jon - here is another way to describe your situation:Assume that your took $20k worth of depreciation.

The 6 extra months come at no additional costs.It is important to note that F&G requires you to have certain documents emailed to them such as; a valid driver’s license with your current address, social security card, and proof of your address.

Its understanding the documents you sign.

@John Morgan Do you have a link to the documentation of this law change? 

EM is the part of all your payments out of pocket: down payment to the seller and closing costs.Most important, someone has to write all the same documents like with the usual mortgage: the note and the mortgage(that the seller entitled to repossess your house in case of default on the note).After everything is ready, the title company will give you HUD-1 or whatever it is for the land contract, where will be $$ you bring to the closing.BTW, seller will credit you with the prorated taxes up to the day of closing.