responsible" is interchangable with liable, the lender or servicer is liable for any penality assessed for late payment but only if there area sufficient escrows to pay the amounts due and to collect no more than 10% of actual assessments,,,basically.

My mind was made up that the tried-and-true power of sale provision was necessary and sufficient, especially for a $70,000 loan on about 50% ARV.

(Fast forward, an expert witness has declared your unit substandard and you have to return 100% of the rent, because there actually was a problem with the heater and it wasn't for whatever reason providing sufficient heat.)The gap under an EXTERIOR door would be a problem in CA, especially if there was water intrusion (probably not on it's own, but combined w/ other problems, it would be a point against you). 

The date on the letter was May 10th, which would have been sufficient notice if it was mailed in a timely fashion.

Sticking to the above calculation rules will mean you will rule out some properties; but also remember that if you pay too much you will not be able to get sufficient financing anyway.

4- is installment credit sufficient to build a paydex score of 80 or above if I always pay on time and pay off the entire amount due to all 5 banks after 6 months?

.$463,533 Low$627,134 HighMy inquiries are whether or not this deal can be structed as a wholesale deal, and if so, what would be a sufficient asking price with the criteria that has been provided?

If one is paying high interest for money borrowed and the DOM is long, maybe the 70% is not sufficient.

However, I also would say, once you've learned what you feel is sufficient, just set a goal of trying to get through your very first deal.

After a two minute conversation, he said what I had was sufficient.