There are many other reasons as well, but in this case, if they have the person in custody they are usually willing to release the liens as they have done their job in helping catch a felon.This is the method they used to catch a lot of the mobsters, tax evasion and liens tying up everything they have.

Almost every realtor I spoke with said they'd had problems with investors (probably inexperienced ones) tying up a house under a lengthy options contract preventing its sale even after the bank negotiation fell through.

A theoretically stronger position to theoretically guarantee the sale later on would be a land contract as that (at least where I'm at) is more of an owner financing proposition - so theoretically they buyer is more "locked in" to the property.

Of course, maybe the 50% rule's tie to rent is actually the mortgage payment on a place, in which case then the tie to rent value makes sense.

I hope that helps in understanding why the private sector loans are not tied to the normal thinking of the FEDS in interest as they are not "conventional" in their conception but PRIVATE and therefore only between lender and borrower until they break a law such as a usuary law.

I'm wondering how long this will be tied up now, or if it will even go through.Thanks.

Put on a suit and tie, listen to motivational cd's or whatever works.

Those two are tied for the #1 reason why I would like to make the switch.

I would really like to buy something cheap while there are so many deals but would it not be smart for me to tie up that much cash w/o being sure I can get it out?

When the trend of supplying "affordable housing" for home buyer is completely reversed, The power of renters is only going to get bigger and stronger.