The commitment letter actually noted that the lending institution could require personal guarantees for 25% of the original principal at their discretion... but they opted against it for some reason.

We've committed to 3K per child per year of college, which is 57K over the next 10 years.

Monthly may be hard for me to commit to with my schedule for my day job but im willing to give it a shot.

If you buy it under the guise of being an OO, but don't actually plan to occupy it as an OO for at least a year, you're committing fraud.

It says you are committing equity skimming in FL if the you buy the property "subject-to", collect rents and don't pay the mortgage.

He is doing additional research before he commits to an answer, but is leaning towards the same approach as I got from the TurboTax adviser.

In late 2009, Lagow filed a whistle-blower complaint under seal, charging that Countrywide had committed fraud and violated the U.S.

The type of person I am, I wouldn't commit to a deal like this unless I really did my research & had multiple exit strategies already planned out.

4% seems reasonable for a wholesale deal where have the property under contract and are committed to actually finding a buyer, as you would be if you had it under a contract to purchase or a listing contract (wholesaling and brokering are the same job, IMHO.)

When I come across unreleased trust, I will have my processor put an exception in the commitment requesting a letter of indemnity or recording of a release.