Scott,The decision was likely complex given BoA business mix and some merge activities presently being worked on (MBNA for one).I think it is fair to assume that if BoA wants to buy in loans originated by another firm Countrywide will be close to the top of the list.

This may be useful for some of them who has their poor credit reports....

Would it be a wise decision to jump in the market, while I have an opportunity to make substantial gains in the next few years?

Investors should not really be interested in a 100K property for 80K, but I suspect would would get takers.If the house is in poor shape, and the owners are broke and out of work, you might indeed manage to by it for $50-70K, and if you could then resell it for 80K and make a nice paycheck.I think its unlikely to manage to make 50K on such a deal.

The economy will tell us what the Fed is going to do.Question and a tangent.Do you even consider interest rates when it comes to your investment decisions?

Never easy to know in advance so studying the commercial options is likely the best way to make an informed decision later.John Corey

Overall, its all my money anyway,and it was the best decision at the time.thanks again for the infosteve

I've also been more apt to work for myself recently after discussion with my roomate, who is now obsessed with reading financial books like Rich Dad, Poor Dad.

So you have 2 levels of insulation between you and the property.Lets see if any lawyers want to comment on who will likely be named in a lawsuit.While the owner is the trust the trustee is the one responsible for the decisions.

Currently in Brighton, Michigan with the sole purpose of investing in real estate.It all started after reading "Rich Dad, Poor Dad" about a year ago.I quit my job and moved out here in June to focus on investing full-time.So far it is going quite well.I currently have two properties under contract and am busy looking for partners.VERY happy I found this forum.Myles