Taxes are so high because the government is so big and bloated and spends so much and has for decades.

I really don't know much about the Patriot Act J, but I do know that it is decidedly unconservative for people to want DRASTICALLY MORE government involvements in our lives.

:Asking $75KMy Offer $50K cash, close in 5 days (contingent on inspection)Est Cost Repairs: $35KARV around 160KMy guess is the government knob only saw the offer price of $50k and chucked it.

There are a few programs where a higher LTV is possible, but they are government backed programs and it doesn't sound like the property you are looking at would fit any into any of them since you mention you need money for repairs.SBA 7a loans do allow for TI upgrades, and the 504 allows for even more rehab work, but those loans are only for owner-occupied properties that can debt service at 1.2 or better.

With the government considering major changes with Fannie and Freddie, this has gotta make lenders nervous about making mortgages.

They are very similar but probably the main reason is that a bond is a security, a debt obligation of a corporation or government entity and a promissory note is not.

Yes, but here is another angle, this guy is in a real hurry to cheat the government it looks like, but he could alsobe cheating creditors, maybe a judgment, divorce settlement even his probation officer from his earnings to pay his past motel bill.

I suspect by the end of the year we could see some more government involvement with tax credits which could spark demand especially if they are given to everyone.

one of my banks just did this to me last week j...he said it was a new policy, but i never thought to ask if it was handed down by government policies or from within the bank itself...he can close on a purchase in 10 calendar days if necessary, but it seems i'm putting up the rehab costs on this next project..unfortunately, it's a large rehab, so it's going to slow me down for the spring a bit..hoping they change their rules soon..

If no individuals (OOs or investors) pay the market price, then they will sell cheap to local government, teachers, policmen, and non-profit organizations.