Here is an interesting read from the government that just came out from the FCIC.Enjoy:http://c0182732.cdn1.cloudfiles.rackspacecloud.com/fcic_final_report_full.pdf

If you spend some time in AZ, you will notice that it is better-governed than both CA and NV.

The government is only postponing the inevitable at the expense of the people who are currently paying their financial obligations.I do understand that unemployment is at the highest point ever and people do have health issues but those are not the people who are creating this problem and crashed this market.The people I hear complain the most are the ones that used the 80/20 mortgages, no doc loans with no money down and interest only mortgages.

Well I gave it sufficient time for the reply, but took care of that with the quotes.I won't copy all the smart comments made but here you go:GEORGIA TRADE PRACTICE ACT, Chapter 3 Title 8 (adopted 1994) This Act governs those who provide home inspections for a fee and requires that certain aspects of the report are uniformily addressed.

Believe it or not, B of A actually took much of the loss on flooded properties arising out of that storm (and indemnified by the government) due to the disaster.

Since you don't have a security agreement to govern any foreclosure, you'll likely be ordered to go with a judicial foreclosure and there, you could be slapped with paying your tenant to get them out.Also, the SAFE Act specifically mentions Options and also includes language that leaves any method or scheme that effectively extends financing in a transaction or that attempts to circumvent the intent of the Act.

Makes you realize that government has gotten way out of control, and that is a large part of why we are in debt.

Taxes on these properties can be killers some times.In Atlanta you have houses for 15k that rent for 400 to 500 a month but taxes are insane at 3,000 a year based on previous assessments.Atlanta has a 100 year old sewer system.The infrastructure being old means local government will find a way to put this cost on the property owners in the future which will affect cash flow.How much land does this property have??

Sounds like a win/win...but this is government right

My undergraduate degree was in Physics and I received an MBA a few years ago.I can't tell how useful the physics degree has been to real estate, but I certainly understand the thermodynamic principles that govern the vapor cycle in your typical residential air conditioning unit.