Solicit the advice from five more senior members of BP to determine "if" you should do it.I am quite certain that you will get a fairly consistent response.

Depending on what is on someone's credit report the mortgage broker can also do a rapid rescore to increase the score in 48 hours.I do this for a living so I know increasing your score can be done very quickly.

Or does it even matter what you write as long as the seller is consistently receiving your mailings?

Iam going through an arduous process with WAMU myself.My case:I have a Condo (primary residence)1st and 2nd mortgage with WAMUtotal owed: $680KI knew I would get into trouble because my business went flat a 5 months ago and my cash reserves are being extinguished.I downloaded the information from WAMU site and submitted a complete package with an offer from a neighbor that is interested in buying the property if price is OK.I submitted ALL documentation to WAMU with the offer, proof of funds (50% downpayment) and prequalification for buyer through Wells Fargo.Offer $375,000 - prices for 2003 as per tax records.Nothing has been sold recently (18 months frozen market).WAMU sent an appraiser on Sept 02 and by Sept 04 the appraiser confirmed that the report had been submitted to WAMU through the third party company that manages Appraisals requests (REM).I have the name, extension number and e-mail of my negotiator but it has been IMPOSSIBLE to talk with her or to get anything from her.Her last (only) e-mail on the 23rd said that she didn't have the apparisal report (I tried to get to her to try to resolve it, but nothing back).Now she is in vacations until the 14th.I had been on time for my payments until August.I haven't made my payments for September - cash reserve extinguished.When will this default start affecting my credit score?

Honestly, is this just a personal observation or is this from a report/market indicator?

Since I didn't, you simply get rid of me and you're free to do as you wish with the property.My credit is highly unlikely to be negatively affected because you're not an institutional lender and you don't report to the credit bureaus.

I've read a few reports that people are slowly starting to head back because the demand for construction workers has dropped soo much.

What is the difference in doing this, verses placing their name on a landlord website reporting they are deadbeats?

:wink: Next you should put together a SWOT reportS=Strengths W=WeaknessesO=OpportunitiesT=ThreatsIf you're honest in the report, it will give you a good idea whether or not it's a good buy.Is the unit currently leased?

I think most of the older guys here would agree that you need to consistently make good investments with few mistakes to amass even $5M in LIQUID,LEGITIMATE net worth over a period of 10-15 years.