If that is true, and and most homeowners are in denial, then why do over 40% of the owners in foreclosure, file for Bankruptcy (Chapter 13 is most common and Chapter 7 is filed on occasion)?

I want to be able to focus my efforts in other areas of my business but find myself wrapped up on the phone the majority of the time.

Relisting it as a new listing in the MLS is very common.

If you or someone you know is agonizing over this, consult with an attorney to be more sure if you desire to since my reply here is not intended as legal advice, just common sense.

Isn't wholesaling the most common strategy for new investors????

I can't tell you the countless hours I've spent talking with people on the phone, forum and through email just helping them from biggerpockets.

If it isn't a commercial loan or hard money, then its pretty much conventional, FHA, or VA.Conventional financing is probably over 70% of all loans. 5% down is typical but 100% financing is very common, also.

Did you call the phone number provided by applicant, or did you call the company's listed phone number to reach a manager?

That makes it sound like there is no more risk than any other investment... there is always a chance that someone will break their contract.Maybe it's more common with these deals because the original owner stays involved longer than with a traditional sale or flip.

Other markets, like mine, will commonly cash flow with no downpayment, but we didn't see any significant appreciation in values over the last 10 years (3-5% a year).