I'll bet that the deed restriction on REO that you are mentioning is from FNMA (Fannie Mae).

I bought my first property a split-level 2/2 condo with loft that I loved (know better than emotion now) at the height of the boom for $278k *cringe* I was 23 at the time, finishing grad school, and focused on not getting a sub-prime, balloon, or any other type of bad mortgage but not really the value of the property itself :oops:Fast forward, 3 years later - the bubble burst in a big way and the same style properties in my communities are now listing for $100k and $130k :shake: def sad times.

Hi, are you familiar with the new lending restrictions, for seller financed non-owner residential properties?

We have started to look at ways we can market our properties to attract "conventional" buyers to avoid some of the double appraisal and other restrictive rules placed on those who dont have cash to put down.

You might have a restriction on the deed, inwhich case you may have to wait 90 days, if so, get a down payment give possession prior to closing and close on day 91 as we talked about in another form thread.

Rich seems to have interests in many areas, limiting his reinvestment to this subdivision seems to be a rather restrictive assumption.

(I understand that there may be some restrictions on the ability to deduct losses from a passive activity against your orginary income, but that is an argument against pass activity rules and not the mortgage interest deduction.)

Probably wouldn't hurt to match up what info you get from that attorney to Ebay guidelines/policies/restrictions.

Originally posted by Richard Graham:How about Chase I just got a nice deal brought to me today 1st & 2nd with Chase Chase does not currently have any anti-flip language or restrictions in their letters.

I'd rather see a buyer being able to get any loan and not be restricted to a particular program.HAving an option with an option price that is credited to the purchase price is the customary way of using options.