I would have kept doing that but my wife said no more moves!

Now they owe $325K and the rate resets to 8%, fully amortized, no more options.

No more then 65% if the bank will go that low.

I want to buy a rental for no more than 75k using my wife's (were not married) credit, Then buy a bigger home for us using my first time buyer incentives (teacher with great credit) and rent the home we live in now that I am going to refi, giving me two rentals.

Long story short I proceeded to use almost the entire LOC to finance my other real estate holdings.I now owe $80k on this double via a interest only variable rate LOC when the while the property is probably worth no more than $35k.

OK so far so good.This was one of the last houses to be built in that sub, so no more building noise etc...

yes the contract said that the sale of the house was contingent on me obtaining 80% financing at a rate of no more than 6.5%.

this homeowner is in deep trouble and there is no where to go for him but foreclosure.There is dirt going on in the loan industry that needs to be cleaned up.Maybe no more regulations but enforce the regulations that are on the books.

It takes no more than a 4th grade education in my opinion to become filthy rich.

Usually have no more than 1 month, many times just 2 weeks from the lawyer listing the foreclosure in the legal paper, the paper can take a week to get to you, you now have 1 week to look through the paper, contact the owners, do your due dilligence, and make a deal before the house is auctioned.)