They were very well received and the head title officer actually said that she will "get the word out".

I knew it was a long shot but figured I'd put the word out.

If what he's saying is true, you'd think they word it more clearly.

'Character' is the one word that buyers are looking for.

A word of advice is to start contacting banks about a mortgage ASAP, as it will definitely be tough to acquire pre approval with only a year's worth of salary.

In another words, you won't get any special treatment just because the bank owns the current loan (and you won't get worse treatment either).

You can also set up key word alerts to keep on topics of interest like rehab or Denver.

Therefore, the bank announces "minimum bid to let it go will be $41,128.76" (so in other words if you're not going to bid at least that amount, please don't bother bidding), so that if you were willing to bid $30,000, then the bank had to bid $30,100, they would have to pay the transfer tax on $30,100, not $1.

Interest paid during the life of the loan doesn't have to be paid again at loan payoff (somewhat obvious, I guess).An interest only loan is not amortized, so the use of that word is not entirely appropriate in this context.Additional funds, again depends on lender, but I would include all monies in the one and only loan created at closing with a portion released through the closing agent as the rehab progresses.Adequate earnings, whatever is in the promissory note is adequate, as long as it's legal.

In other words that means you rollover all of the proceeds to a new property or properties.Here is a brief synopsis: http://www.1031.org/about1031/faq.htm