I'm sorry, but you're contradicting yourself, if any loan is secured by real estate with a perfect security interest, it is a mortgage.Banks do not make non-owner occupied mortgages at 95% to God or any mortal.

To me that is the perfect situation for you both, assuming all of the other pieces are covered.

While you can still get a good deal, it is the perfect storm for a few people to make some really bad decisions if they don't do their research before they buy. 

And for those who still owe more on these homes than they are worth, selling is also not an option.With banks tightening the screws even tighter on mortgage lending this year due to increased regulations, seems like perfect timing for the HAMP Program to expire.

I've sold some properties that were perfectly good properties but be too far away, or too old, or too low return or too something else.

A foreclosure can be caused by many event, including buying at the top of the market and realizing your way underwater.I tell everyone before screening I'm not looking for perfect credit, if they had perfect credit they would be buying, but I'm looking for people that pay their bills on time, maybe have had a hickup or two, but generally pay everything they owe every month.If someone has something very serious on thier credit, they normally tell me then and save us both the hassle of declining them.

The same way they could have perfect credit and a terrible rental history.Also side note about doing your own rental check.

Am in negotiations with a seller of a home with a below ground oil tank in New Jersey.The seller agrees to remove the tank prior to closing,while the heating system depends on the tank.Should I also insist on a new heating system as well or is removal sufficient?

Just keep in mind that we're not dealing in illegal products but simply need to manipulate our delivery.In regards to the delivery, my method is similar to what Bill suggested in that the mobile home is a rental until the last payment is made at which point I agree to give the title to the tenant-buyer due to the ending of the useful life of the mobile home.This is far from being a perfect strategy, but it's working for me right now and I'll adapt when necessary.

I've found that 3/3s are rare, but they are perfect for this.