If they don't want to cooperate, work out the best foreclosure deal you can with them.However, make sure you can secure a rental before you make a final decision.

If its an unreasonable sum (I currently have offers around $60K on two house where over $150K is owed), work out a short sale.

The lenders don't want the house and most are happy enough to try to work out a solution with the home owner so they can keep their home.

Are you sure there are no structural issues, zoning issues, flood plain issues, or other major cost-intensive problems?

Bob, Through PERSISTANCE you will find out that many of the time intensive tasks that you currently perform are meaningless.

Lee: Well Liz the numbers work out better for you, if you decide to hold the note you will gain more than your original asking price would net.Seller: But I could have to take it back right?

Maybe take them to lunch every two weeks for the leads for a friend or whatever you work out.

We're both very excited about this.For the last couple of weeks I've been re-reading flip/rehab books I've bought in the past and studying REI forums intensely.

Hi Nancy,I tried to send you a message along with the colleague request but that didn't work out all that well (I think I accidentally hit the send request button too soon).Anyway my office is in MV and I live in RSM, and generally represent first time buyers and investors.

They should work with a lender NOW to find out how it might work out, though who knows what lending will be like in three years.So, the new loan is for (say), $35,200, and they pay the closing costs in cash.