State law will dictate how any excess monies paid on the sale of collateral must be disbursed as it becomes an issue of equity beyond what was due the lender.

It's conceivable that the bank will not refinance your note for numerous reasons related to the lending environment, their financial condition, their appetite for your specific type of loan, or the location of the property.

You can either purchase them outright and keep the revenue or contract it out just to reduce excessive water use.

Seems excessive.

Or I could get a mgt company in this scenario too.I would spend the year the FHA needs you to intend to stay in the property using my limited handyman skills and contracting other repairs and build cash in excess of capital/vacancy reserves to get into other deals.So, this is the short vague version of my business plan.

However, products and bank appetite changes frequently, so it's worth it to call every single one.If you call enough of these, you *should* find an investor-friendly bank that "gets it" and makes purchase+rehab loans for 75 to 80% LTV, with quick closes and instant-issued pre-approval letters to back your offers, at a very reasonable level of closing costs and a good personal relationship with a local banker who can make decisions.I was just hooking up with a bank in my area who does the following:1yr ARM at 3.99% fixed for 1 year3yr ARM at 4.99% fixed for 3 yearsNo points and no prepayment fees30 year amort. schedule and final maturityAbout $500 in total feesRehab portion released as work is completedIf you decided to keep the property, the floating rate terms (after the 1yr and 3yr periods) would be 1yr Tsy+375, w/ 2% annual change cap, 6% lifetime change capNo balloon, straight 30-year amort.Once you have a little more capital, you'll likely want to make cash offers to improve your negotiating stance, so you'll want to make sure that that the bank will come right in behind you after the close, do a cash out refi and fund your rehab at the same 75-80%.

$600 billion, not $600 million, although there was such a typo in the Wall Street Journal,The Fed buys bonds, which creates a shortage of bonds relative to all the cash out there that would otherwsie be invested in bonds, which creates excess liquidity since that cash needs to be invested elsewhere.

I have a specific deal going, and my assignment fee will only be $5,000 so it's not excessive, and the retail buyers would be getting a house with at least $10K of equity in it, so I know there won't be appraisal problems.If a simple Assignment of Contract will not work, has anyone ever heard of filing an Affadavit (or Memorandum) of Contract with the local county clerk, and then invoicing the seller for "Release of Equitable Interest" or "Release of Contract"?

Wipe up any excess with another napkin.

I have a MHP in Lakewood and the city does not have storm drains in place for excess water runoff so we have a French drain in place to keep the water from pooling in he MHP.