That is correct, refund your money.I have done research on removing bad credit and have found the removal is not based on whether it's true or not, but how the creditor handled the account according to the laws which govern them.

$8.07 $7.35 Long term Government backed agency leases High demand rental type 3 to 5 year leases on 50% of the complex Excellent cash flow Estimated Expense Summary Actual Pro Forma Projected Taxes $72,490 $72,490 Insurance $12,131 $12,131 On-Site Management $30,000 $30,000 Trash $5,131 $5,131 Cable $1,708 $1,708 Maintenance $33,402 $23,270 Repairs $15,201 $6,090 Advertising $6,809 $4,074 Legal / Professional $7,483 $2,658 Administration $8,317 $8,317 Permits/ Licenses $1,104 $1,104 Telephone $18,294 $18,294 Payroll / Benefits $112,943 $105,250 Security $17,780 $17,780 Miscellaneous $19,896 $19,896 Utilities $143,030 $136,000 Workmen's Comp $5,388 $5,388 Auto Expenses $2,000 $2,000 Pest Control $716 $716 Furniture $4,356 Totals $518,179 $472,297

Certainly it is better to sell for a discount than have the regulators pull their right to operate as a bank.John Corey

Regulated lenders (banks, etc) legally have to dispose of their REOs and a minimum price is not required.

I just found the local government recorder/fiscal office and have been looking up the properties we are eyeing...The state has the property we are most interested in appraised at 70,000.

Mitch,:welcome: As a bank what government agency/regulator oversees Trillions Capital Group?

If you retain most of the control and the note buyer is passive you also might get into trouble with the state security regulators plus the SEC.John Corey

If you want to do rehab work then take the time to make sure you are operating per the local regulations.

HUD owned properties are just foreclosed properties that had FHA loans which are government backed.

If they must, they will turn it over to an agency like Fanny Mae or Freddy Mac (government supported) agencies that serve as a balance between the RE market and the government control of the properties.