If they elect to take monthly payments then I give them an option on the property to protect their interest.

What I meant to really ask was "After a BPO has been done on a short sale after there was an offer, sometimes banks choose to do another BPO.

The neighborhood tried to get rid of them, but they were advised that the way the rules for the area were written there were many people in violation and they would have to go after everyone so the neighborhood elected not to do anything.

I also meant to add that I agree with you, Sherry, that the pictures you posted are quite different than what's in the listing.

I just meant greater Phx...like north Phx, Scottsdale, etc.Do I realize where Arizona is located???!!!

Based on the wording of your first question, I agree with Jeff S. on most aspects but not sure what was meant about "topping off loans".

I can't believe that it has been 7 years since the birth of BiggerPockets on October 22, 2004.I put together a brief blog post and video on the topic (link below): BiggerPockets Turns 7 - Happy BirthdayI wanted to get some feedback from you guys about what this place has meant to you.

These programs usually amount to political points and re-election fluff.

Nice catch.I meant to say "popped" :)

All three were currently occupied which meant they probably have deferred maintenance if the owner was not paying on the note.The bank offered them to me at $225k with no app., no closing fees.