We moved to florida from western NC and bought a house while still trying to sell our old house in NC...Well, it isnt selling.We have been paying both mortgages for several months now, and are bleeding money every month.It is too expensive, we cannot afford to continue doing this.So, we are entertaining lease options.We got an offer of 900 month rent, with 3500 down on 18month term.Our mortgage is 1600 a month as we paid 240K for the house only a couple of years ago.So this will not nearly cover our monthly expenses.

My tenants are having problems with their newborn and have to move in with family to afford the medical care.

Investors who borrowed more than they could afford and lenders who were only too happy to help them do it.

When it becomes apparent that we can't afford to give handouts to all the deadbeats in this country, what do you think will happen?

There is no better time to start than now.If you have a product that is better than your compitition and at a better price, people will buy it.Most of my investors are CASH investors and I have had no trouble selling my houses.

As the entity grows, your intent is to market that investment as a product to where investors could receive fixed and secured returns.

Thomas Lucier's books have many included contracts for affordable prices.Foreclosure overview books by Peter Conti and David have won New York Times bestseller awards, and provide great information about the process and also give you scripts so you know how to approach homeowners.Hope that helps.

I would say if you can afford to pay cash, then pay the cash and wait about 6mths or a yr and then take out a home equity line of credit on the property.Whenever you can purchase a property free and clear, I would definitely recommend going that route.

We need to get this country back to reality and end all the ridiculous promises that we've made but can't afford.

But I do have some money to spend that I can afford.