This also opens up the old question of whether it is worth pulling $$ out of a 401k and taking the penalty hit, or letting it sit there.

Ask the contractors that built on the lots what they paid, or get the title company to pull a property profile for you that shows the sales price.

Concerns would of course be the distance (we live in southern CA), nature of the HOA or management, and the present state of the tourist and real estate markets in Maui.We also own a condo where we live, so far things have been okay.

When the loan is pooled and sent into Fannie/Freddie they will re-pull the credit for verification, due to the car loan the borrower's credit score drops to 615 and now the loan is ineligible to be sold to the GSE's.

So, you can pull a note if you know the sore spot to push on a bank in such situations.

LOL, had to laugh, yes, cheap SF land in the SC woods, deliverance, you maight get some sheet wearing, bondfire dancing, toker with his AR-15 buddies pulling in travel trailers!

I have talked with my stepfather about investing in real estate on a number of occasions, and he's intrigued by the idea, but too gun shy to really pull the trigger.He bought, and owns outright, the house next to where he and my mom live and rents it out.

He said that for a few reasons, now just ins't a good time to pull a deal off.

Naturally I agreed.

I paid for all the rehab and improvements in cash so I would be able to refinance no matter what but in the end was able to pull my cash out and have a solid performing SFR.