It truly is a shame that I won't be taking over his business and it seems like a huge missed opportunity as he is doing very well for himself, I just think my passions lie elsewhere as well as where I want to live myself.

The right contractor makes all the difference.If the property needs corrected health and safety items such as replaced gutters or repaired dry wrought it’s because a trained construction expert or appraiser knows it’s necessary to protect the buyer’s and lender’s interest.It’s no more difficult for the borrower to qualify for a 203k loan either, it’s an FHA loan.Any Realtor who says you can’t use a 203k to buy a short sale is wrong.Like most Realtors, they don’t understand the loan so they stay away from it and tell their clients the same.This is a shame since there are 203k classes out there for Realtors to learn how it works, I teach one.

geez bill..i hoped if i stayed away for a few months, you'd go find another website where you could hound people :) seriously though, i don't see the tax implications of an untapped line of credit..there simply is no interest to pay if you don't draw on the line...and i don't see how it's fraudelent or a sham either, if the money is truly available...now a 40k swap for a 40k swap between pals is one thing..but having a buddy set up a line of credit for you, and you setting one up for Tom, who had one set up for John, who sets one up for Ann, etc...

(I know.. what a shame!)

I'm not ashamed to walk away from the RD advanced education courses today, who knows I may attend later which I would love to.

It's a shame, but it's the way it is.

So don't use me as a source, just check with the right person, be a shame to pay taxes you don't need to pay.

A bit of a shame, because it seems like there's quite a bit of activity down here.

Makes sense Karen Margrave - I can see how this could be an issue in some markets (kind of a shame).I'm marketing with the intent to SELL property.

It's a shame that everyone is taught you have to be an MBA or lawyer to make money in the world.