Who is held liable for the extra $100K?

I'm surprised you're even able to get a loan, with that many units being in foreclosure.If you can get the data, figure out what the current owners paid vs. what they are realistically worth now.

Get an extra job, work hard, do what's right, and pay your bills even though you take the loss.

Some individuals send extra money in on their mortgage not specifying that it goes to principle and guess what.....it's placed on pre-paid interest.

Make some extra revenue and have it serve as a nice amenity for your perspective tenants.

I would hope to get this property for 90,0000 take the loan for 110,000, using the extra 20,000 to bank, improvements and any catastrophic failures that could possibly happen.

The extension gives you an extra 6 months - October 15th is the deadline.Mike

You should be able to get some statistical data at the respective websites.

It's the slum lords who bypass the law by paying for city water and trash service and then they charge extra rents to make up the difference.

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