If you have 10k you can typically only by 10k in stock, but with 10k, even with tighter lending standards you can get a home valued at 100k.

I have heard you should market to people who have filed for a "release of stay".

`(c) Establishment and Implementation of Program Requirements- `(1) DUTIES OF THE BOARD- In order to carry out the purposes of the HOPE for Homeowners Program, the Board shall--`(A) establish requirements and standards for the program; and`(B) prescribe such regulations and provide such guidance as may be necessary or appropriate to implement such requirements and standards.`(2) DUTIES OF THE SECRETARY- In carrying out any of the program requirements or standards established under paragraph (1), the Secretary may issue such interim guidance and mortgagee letters as the Secretary determines necessary or appropriate.

You NOI calculation is not including vacancy either (which at a fairly standard 8%) drops your monthly cashflow another $64 leaving you at a $56 per month loss.

File 13.

My standard question is, "What's the monthly payment you can afford for housing without the amount making you sit bolt upright in bed at night in a cold sweat?"

He calls me the other day and says that he is going to let the house go into foreclosue and is filing bankruptcy after trying to refi and the house is worth less than he owes(and I owe).

Short sale skills are not taught in standard real estate schools.

If all she got was a 30 day notice, you will have to file for eviction to get her out if she hasn't left.

I dont think that there is a standard minimum for Indymac as that would lead everyone to offer that price.