You will need to know that to figure out your eventual monthly costs.Your Realtor and mortgage bankers should be helping you find the proper insurance you will need to carry.Are oil tanks still used in that area?

Have resources at your disposal to refer them to only the best accountants, bankers, contractors, etc.

And you need to talk to some bankers in your area to see what they are offering.

FHAs will follow the property as mentioned and if the lender is not funding at the table, the appraiser will likely be assigned by the mortgage banker that the loan was registered with, not the broker.When any appraisal is assigned, the very first question the appraiser asks is what is the contract price.

Everyone likes the idea of big evil bankers, but really the price escalated as buyers assumed they could keep moving up in the size of home or the quantity of homes, most planned to sell if they could not make the payment.

I think thats the game the criminal bankers and wall street are playing with full support of the government they bought and paid for.

The banker may well explain "no, we won't give you the OK to do that" and might further say "we reserve the right to call the loan.

Just because we are a landlords  doesn't make us their counselors, priests, bankers, family member or friends!!!

Its been a rough learning experience but i forced myself to dive right in. if you know anyone in the real estate business....agents, bankers, contractors, etc...definitely ask them questions. knowledge is key in this game. 

The foreclosure stream has a guy (banker) giving preferential spots.