Pay off some credit cards with high interest rates or ask for a rate reduction on those.These might be small things but then you look at them and they create a snow ball effect of change.The motorcycle is not a necessity since you already have transportation.You need to define WANTS from NEEDS.

  $50k is an exaggeration but we DID experience a nearly $25K reduction in value during the dip. 

Most of them are listing high and then price reducing but then selling fairly quickly after an appropriate reduction while still making over 10% annual.  

I think I am just not understanding how the $15k price reduction turned into free rent for them.Thanks in advance!

You can ask the seller to pay up to 6% towards closing costs (sellers concessions) you can purchase up to a Fourplex property.Maximum Basic Standard FinancingSingle - $271,050Duplex - $347,000Triplex - $419,425Fourplex - $521,250FHA Basic High Cost area limits are:Single - $625,500Duplex - $800,775Triplex - $967,950Fourplex - $1,202,925Here is a site to look up Maximum financing with FHA;https://entp.hud.gov/idapp/html/hicostlook.cfmMaximum Financed Properties The maximum of four financed properties includes the subject property.Inducements to Purchase Certain expenses, paid by the seller and/or another interested third party, on behalf of the borrower, are considered “inducements to purchase” and result in a dollar for dollar reduction to the lesser of the sales price or appraised value of the property before applying the appropriate LTV factor.

These listings have often been on the market for a year with little to no price reduction.

My company completed over 2.2 million dollars in debt reduction in March of 2008.

The seller tried for a loan reduction but didn't make enough to qualify for a refinance.

Was there a principal reduction as part of the mortgage modification?

The seller is calling in the morning for a loan balance payoff amount, can the seller ask for a small reduction on the balance due to gain that little extra so I can close the deal for sure and help her out of her situation on an even higher note??