After the notice of default, there is usually a reinstatement amount to bring the loan current.

Originally posted by "MikeOH":It's very frustrating, but I guess this is what all nations go through as their civilations decline (don't get me started on that).Mike:protest: Then why bring it up if you do not want to be started?

If you only can get $350 a month for rent, refinishing them and making the shiny will not bring you $450 a month in rent.

It cost them dearly.Watching the “trends” would be a smart practice and I know the “big boys” of investing do that, so they don’t end up with a “stall” of purebreds with no race to go to.The “greed” of some investors is so intoxicating that, like an alcoholic, they never see disaster coming because they’re not looking anymore.Almost every night, the networks bring their “doom and gloom” reports of how horrible it is and how much more horrible it will probably be very soon.

I would be bringing a very cheap product to market, even in light of this downturn.

Get your friend to give you the $2,000 earnest money.If this is an REO, be careful because the contracts are not usually assignable and it brings up other problems.

Its kinda in okay shape, we can probably spend about 5k on repairs to bring it back to normal condition.

taking out new loans will probably affect your score at first, but after 6 months or so of showing payments made should bring it back up. very possibly higher than before.jim

Higher mortgage rates could keep buyers from coming back into the market and could bring prices down even more.On the plus side, lower short-term rates should stimulate the economy and hopefully keep us out of a recession and keep us from losing jobs, which would be terrible for housing.It will be interesting to see how it all plays out.

Thanks for the responses, and sorry about being broad themed.I'm just a bit south of Boston residentially and work in Boston these areas and my commute are where i'm focusing my searches.To clarify: Specifically I would like to have a few multi families, that bring in there own mortgage and maybe money left over.