To ask the manager to be a social worker, judge, and policeman as well is absurd.

They are usually around $350, and cover the appliances, air-conditioning, etc.

Context matters and there will be some conflicting advice based on local market conditions.

Comps in mint condition are about $265K.After estimated expenses, insurance, and taxes, cash flow would be ~$25 a month for the first year.

Maybe too new or maybe just not what people are used to as this was a forum and not a social network in the past.

Or the lender sold off the credit risk and a condition of the credit swap restricts what can done when it comes to loan term modifications.The Sec of the Treasury was highlighting this on CNBC a few weeks back.That said some lenders do control their loans so they will strike a bargain.

I would like to refi the current home to 1) cash out some equity towards the new home 2) Bring down the monthly to minimize neg cash flow 3) Keep my new mortgage under the tentatively proposed 630k conforming limit.Under the current market conditions...would it be advisable to change me current 30yr fixed to an ARM to help in bring down the payments?

I have done this and have not had any problems to date.The most important thing for me is to NEVER give out my social security number.

Michael,Thanks for the advice, I agree most is junk…I pretty much wrote off most of the areas bc I could assume what the property conditions would be like.

You would have to get this deal at a significant discount because depending on the market conditions you could be faced with a very long holding period without cashflow.Let me know if this is helpful?