I have noticed in my area that properties are going for more than they're worth.

I will be giving notice on my apartment and won't have a place to life if he backs out.

While researching an area I was considering (stockbridge) I noticed The number of active foreclosures was well over 100% higher than the national average, other areas nearby were even higher.

I have noticed that people don't pay more for a large house and more land in comparison to other houses in the same neighborhood.

Because you're paying so much in rent, have other assets albeit overseas, and perhaps decent documented income, you should be able to go to a smaller bank that underwrites their own loans vs. selling them off to Fannie, etc.Try getting a pre-approval from a community bank (newer ones formed since the crisis are best) and/or approaching a mortgage broker.Explain your situation and provide an example house/financing scenario.Hard Money is always an option too.Rick

Can anyone give me any info on where I can find Fannie Mae lenders so that I may approach & ask questions to gain an understanding of the program?

The way we structure our leases requires them to give us 45 days notice prior to move out and to allow us to start showing the unit least 1 once a week so we usually rarely have any gap from one tenant to the next.We haven't had any problem tenants yet since we screen quite thoroughly but if something were to happen, I guess we would prefer it to happen in an average updated home rather than one that's completely redone.Now if we were to start flipping, we would probably redo everything but for buy and hold in our target areas market rent, average to + average condition, seems to work well.We have seen some renovated units in our areas and they look a lot nicer but the rental premium isn't too much of a difference and it seems they take longer to rent out.

Scott, that is Not a conventional loan requirement-not Fannie or Freddie.2 possibilities: 1) that is a WF specific overlay 2) your loan officer needs a drug test Or 3).

I have a property under contract, was suppose to close on the 20th of the month, however it has still not closed, im a merchant marine, and have to go back to work in about 2 weeks, march (10th )(1st purchase) all cash deal, needs some work fannie may foreclosure.

I have this tenant (in GA) whose lease is expiring on Mar 31 of this year, but just got a notice from her that she will be moving out at the end of Feb and asked me to accept security deposit for March rent, which I absolutely don't agree to do.