Secondary mortgage institutions, which owns the mortgage, are backed by the government, could care less. 

If you tell her your max, the owners know exactly what you are willing to pay and you lose your negotiating leverage.Using a buyers agent is 100% FREE to you as the seller pays the agent's fees, so there is no harm.

@Sue Deng  please take no offense.. however If you do not even understand this basic question.. and folks in foreclosure are under EXTREME duress and stress how is someone like you remotely going to help them.. other than for your own self serving gratification.to come on BP and ask this question just floors me personally.. the blind leading the desperate and this usually leads to those your trying to rip equity form to end up just losing their house. 

I just wish I could write off my gambling loses when I go down to vegas, but the CPA says that won't work.  

Originally posted by @Muhammad Abdullah:Most wholesalers are like chefs they typically don't give up there recipe for success. you just have to find your niche in this huge market and keep it close to your chest.Good Luck..I agree with you I know this is a long shot but I don't lose a thing for trying.

If you lose the PM, then they weren't worth keeping anyway.

@Charles Moore  your assuming that the rental properties in the mid west perform like west coast... some will and some definatly will not @Ryland Taniguchi has mentioned a few places in memphis to avoid  and I agree I have seen investors buy in fraser and lose their whole investment..

But of for a real estate entrepreneur, whose goal is to make money, and more importantly, not lose money, price is ALL IMPORTANT.The difference between what you PAY FOR A PROPERTY and what a PROPERTY IS WORTH is what Warren Buffett would call - "your margin of safety."

I was starting to lose sleep thinking about it.  

In that case, the ONLY way I'd ever be able to boot you for your erratic payment pattern...is by paying court cost, AND losing a month's rent!