In my opinion, we won't hit bottom until AT LEAST the end of 2008.

Both properties are HUD's and HUD has this great policy of shutting off the electricity, thereby shutting down the sump pump.

After you hit 10 posts edit the one above and add the link.

As the current owner paid $320k and is offering to sell it for $270k I think he has suffered the downside risk, perhaps not much left on the downside.I was born and raised here and know a lot of people in various areas, including construction, plumbing, electrical.

This referral cost me 1.0% in initial interest rate quote, 3 hard inquiry hits because the loan had to declined to reenter it into the system to do a low doc loan and terrible service.

Do the work yourself, if you are a farmer, you certainly can do electrical and plumbing.

For those who want to hit the ground running, it may be a possibility.

Rent: $360 Debt & Equity Information Debt Type: Proposed Loan Amount: $32,000 Interest Rate: 10.00% Amortized Over: 15 Due In: 15 Annual Debt Service: $4,126 Down Payment: $8,000 OWC, so my payment would be under $450/mo PITI, electric seems about $250/mo.. $700 roughly per month.. rents seem alittle high, but even if so seems like a winner to me?

Thus the monthly out-of-pocket debt service is not such a hard hit since we can hopefully get some utility out of that money (i.e. living space).

But I do hope that I get some more hits on the poll.