I'd be willing to bet that the contract says that it's conditional on written lender approval, and unless I'm missing something, the lender never gave written approval for any price less than $180K.You seem to be confusing your agreement with the seller with approval from the lender.

You can bet there is more stuff than the above as well.

some tips on subject to existing financing, number one: make sure that you have an exit strategy thats really quick,  like buy fix flipYou can rent it out but whatever you do don't buy on sub 2 and wrap or Buy on subject to and Lease to ownNumber 2 understand there's due on sale clauses especially on the federally backed FHA loans This applies to wraparound mortgages alsoUsing private lender IRA money to buy clothes is your best bet, if you get the property 80% LTV.  

This week I lost betting against the banks.

I don't care how old or smart you are -- if you have a single trusting bone in your body you will get taken for something, sometime, and usually more than once (though not in the same way or, hopefully, by the same person).Knowing that is how I am, I try not to ever bet the whole farm and therefore limit potential damage.The pain to my pride, however, always seems pretty depthy, if I may coin a word.

We'll see I guess but you can bet that I am keeping the email handy just in case!!!!

Ted, I would bet that there are no teeth in this because the admin (not treasury) wants people to utilize the new loan modification program, which would mean that the banks should drag their feet in order to have these people go from temporary status to a permanent loan modification.

Your local REI Club is your best bet and these forums.

I bet you planned on hiring contractors and providing jobs with the $30 grand you need?

I too believe that the F-in gov-mint should keep their fat noses out of all the cokkie jars where they don't belong, but that certainly will not change, so, all we can do is adjust when adjustments are needed.If the article is, in fact, pointing to large institutional buyers who will take down the bulk assets, I am willing to bet that many of them will leak them to us smaller investors, and perhaps at better prices than what you currently find on the market.