Just an update.. 2 of my rentals went vacant on 12/31 and I have deposits on both already for mid month move in's.

My amortization software came with my Windows Excel from back in the mid '90s.

Low to mid priced homes with ARV of 80-100K.

Scenerio 1: Commercial loan, TX, S/E, 80%, Stated,645 mid score, Value 1.4 Mil. sales price is 1.1 Mil.

The square footage is around 900-1000 sq ft, but the lot size is decent at around 6900 sq ft.The ARV of the house comes in around the low to mid $400's.

I pointed out an example of notes in the mid to high teens for interest rates back in the 80's.

(at least 10yrs) Those are the shoe-ins for a Sub2 Other times I think to myself how can I not only save the foreclosure but make short/mid cash on the deal and usually what will end up happening is something like this: 90k ARV 100k owed 1st something like 7% 30k owed 2nd 130k total...... 5k owed to catch up Catch up the 1st 5k Short the 2nd to 3k so we're into it already for 8k......

I bought my first investment property in mid-2006.

I wonder if they think that those people are less worthy than the homeowner with a smaller loan.It makes little sense that this plan not include the mid-upper end demographic.

I put a bid in on a house in mid-December and the bank finally asked for a BPO in Mid-February and I think a loss mitigation analyst has been assigned to this file in late Feb.Today I was given a contract addendum from the servicing company, I assume representing the bank.The addendum is the typicaly one sided bank addendum and my agent is suggesting we do a final inspection of the property before we sign the as-is addendum.My question is when this addendum is given to me, the buyer, does this mean the deal is a done deal with a quick close or can this drag out even longer?