Does anyone know the minimum percentage that Indy Mac will accept of a BPO?

Also ask your broker about recent Freddie Mac rule changes that disallow financing for a property that's been in an LLC.

FYI: Fannie Mae/Freddie Mac have both gone to a maximum of 4 financed properties per individual.

The difference is that Fannie Mae and Freddie Mac will not buy such loans.

I have heard that, as of August 15, Fannie Mae and Freddy Mac have limited an individual to 5 mortgaged properties.

. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ http://www.iht.com/articles/2008/09/07/business/fannie.php The U.S. government's planned takeover of Fannie Mae and Freddie Mac came together hurriedly after advisers poring over the companies' books for the Treasury Department concluded that Freddie's accounting methods had overstated its capital cushion, according to regulatory officials briefed on the matter.

It's a super easy program to use if you have a Mac.

I have never taken out a loan for a vacation (no credit cards for that matter either......credit is a horrible device and a crutch of the impatient).

It's been a wait they are trying to get the title all cleaned up.Well today my realtor showed us a house in a great neighborhood, 2 bedroom, 1 stall garage (small 832 sq) asking $30,900 - assesed at $49,210 (foreclosure - Freddie Mac), we are going in at $22k for the house and it need about $10k to get it ready to sell but if we were to put carpet/paint in the house for $1k or so we could rent it for $550 easy and then do a lease for 6 mo's then finish it and sell it for $60k - do you think we should do it?

Originally posted by William Mac Bride: The PITI on the 5 year (seller financed) note plus the utilities he pays (water and garbage) comes to about 450.00 a month.