Even if it does, there is so much equity that I should not have an issue getting my part back.

@Imri AdelmanMy attorney always says to steer clear of a cfd in Georgia as foreclosure is so fast and many have title issues which cause you to need quiet title which can cost around $4-$5k.

If he is so much under capitalize and this is the case, then RUN RUN RUN!!!

If this is so, read on.IF you pay off your current mortgage, you would have to qualify (again) to obtain a higher HELOC, and many lenders do not prefer a HELOC in first position.  

@Russ Scheider I'm not one to ask for anything (hence why my post count is so low), but if you have an example that I could take  a look at to make sure I get what I am looking for I would greatly appreciate it.

I would have to dig into that some more but perhaps that is why the price is so cheap?

That does not mean they cant find you a good deal its just you are competing against everyone else.Unless they have a pocket listing or give you a heads up on an upcoming deal they might be able to find something.Side note, looking for some perspective on an idea I was looking at.Because it is so hard to find a Buyer a property in so many markets I was thinking of offering a Buyer's Concierge Service.I as a Broker would contract with a well qualified Buyer to go out and find a Good Deal ie: not on the MLSI would charge a finders fee and the Buyer would pay a retainer for my time and effort and marketing dollars to get those deals.

This is so incredibly helpful!!!!

@Brendan Flannery  That is so awesome and great to hear!!

Make sure to look up when the revaluation is so you're not caught off guard.