I really only want one of the two houses now, and would wait for that one, the other one I don’t even want anymore, because all of these delays have impacted my ability to fund the repairs.I placed a ten percent deposit on each property, and would like that back from either one or both properties.

Due to our ability to find a partial "fixer upper," Josie and John were able to buy into over 10% in equity right off the bat, increasing their net worth just by acquiring the property in the first place.

@Sri L.I can’t answer all of your questions but I am able to answer some.Because you’re changing use of property, with a lot of down time for remodel and lease up, your ability to attract institutional financing will be dependent on your personal financial strength and tract record.

America offers people the ability to pull themselves up by the bootstraps if they want to.What you guys have been through reminds me of JP Dejoria's story of the Eagle and Oyster at TEDxLA a few years back (it's on YouTube).You guys have overcome a lot to get where you are -- Good Job -- and keep on going!!!

Therefore, even if the seller has the ability toforeclose in the event of a default by the buyer, the asset might not be worth as much as it wasat the time of the original sale, and the buyer may have even contributed to its decline in value.

The ability to use the stimulus bill to bolster cash reserves is enticing, but I personally think it needs to be a well defined process in writing to make sense for me. 

It's devastating and it will effect our ability to get the $120,000 down.Being that I put this under contract when the economy was great, and now its quite obvious that commercial real estate values will be plummeting, is it reasonable to renegotiate this deal?

The potential upside with Capex is your house could be more valuable with the ability to increase rents, along with some tax benefits of depreciation.

I opt out of forbearance option due to affects on my ability to get another loan later and potentially impact my credit in a negative way.

Other sourcesI see the same message in many other law firm advisories (here, and here, for example) and in an FAQ put out this week by the FDIC.Again, if you can pay, it might be smart to pay to avoid any risk of a hit to your future credit or lending ability.