Lender is high bidder at auction and bids minimum bid so no money isowed to Borrower.

Perhaps i can attempt a minor flip...that way i can gain some capital as well as repay the money borrowed...freeing myself of a guilty conscious.Thanks for putting things in perspective for me wheatie.

As long as we can locate the bottom of the market with some semblence of accuracy, we'll be able to enjoy some inflation-corrected appreciation and lower costs of borrowing at the present time.The point about insurance on homes in Florida is an outstanding one.

I borrowed something from my Star Trek watching days.Jimi Hendrix - “Knowledge speaks, but wisdom listens.”http://www.famousquotes.com/search.php?

The money is cheaper, quicker and you borrow on your own terms.

So, they turned to their borrowers — homeowners who had taken out mortgages — and demanded instant repayment.

If anything goes wrong, YOU'RE A VICTIM.Live in a hurricane prone area without insurance and a hurricane destroys your house - YOU'RE A VICTIM.Too lazy to work and have no place to live - YOU'RE A VICTIM.A homeowner borrows 125% of their home value in the biggest real estate bubble in history with a gimmick loan and then can't repay the loan when the rate resets - ANOTHER VICTIM!

The borrowers are in the process of proofing up tonight and tapes are being released in the morning.

See "B3-4.3-15, Borrowed Funds Secured by an Asset" of the Selling Guide for how to use borrowed funds.

You didn't say how you would finance this but if you borrowed $32000 (20% down) at 5% amortized over 30 years, your payment would be $213.45 leaving you $436.55/month; still positive even with one unit.