The owner stops making payments.

I find it's difficult to stop the habits after about 30 Days.

This area has not been hit by the downturn.They just redid the entire southport strip with benches, new street lighting and an entirely new CTA Stop.

I'm a workaholic so I can't truly quit, even though I don't need the money.I'd borrow as little as possible, do as much work as you can yourself.

That will stop the foreclosure.

We borrow 15-20 yr. amort. with 5 year balloon for a few months (also to make a full cash offer) and then try and arrange long term financing after things are rehabbed and rented.

In all likelihood, I would stay in the home and not flip it.Is borrowing $20,000 secured by a 2nd mortgage, and then refinancing in 12 to 24 months to take the 1st and 2nd mortgages out... a realistic approach to acquiring this property?

But.....the best laid plans have often been stopped in their tracks (wee funny) due to special interests, the uneducated and highly capitalized and the truly green yet clueless environmentalists.

Reciprocity IS the name of the game here, so if you are wondering why your phone is not ringing off the hook, you can stop wondering now.I have read many requests for mentorship and this one is by far, the most one-sided request yet.

Even if this does not go through the fact that there is some interest might just be the spark I need to stop ignoring that little voice in my head and get serious.