This bailout will cause problems that can’t be foreseen now.

But honestly, do you think Florida's main concern right now is people actually PAYING on their defaulting loans???

I understand your concern about paying points but just as an example let's say you have a 700k loan amortized for 30 years at @ 9%.

I'm actually rather concerned for the first time in my investing life.

Also, homeowners in default vacate their houses for any reason they see fit...mostly because they are done caring about the property...they have to leave anyways, why not move on with their life before they bank evicts them.It is also no concern of the investor why the homeowner chooses to move out.If you can swing it timing wise it is a good deal for several reasons...the house doesn't sit vacant....you have somebody living in it that knows the deal (you disclose to them exactly what is happening and charge them a monthly rent below market value)...they can show the house for you if need be...the utilities get paid...and the investor can make some positive cash flow while negotiating...let's stop pretending this is hurting anybody...and most of all...dont make me think for a second we are concerned about the lender losing money because the investor is profiting....its the homeowner in default on the hook and nobody else.

All the foreclosures in these complexes are causing a shortage of hoa dues, leading to the complex going down hill: Termite damage left unrepaired, giant potholes, wood damage, squatters.

Anyways, we were happy they did not accept our offer cause this property was in an area that lost a lot of value.

I am concerned because I have been told that the bank won't allow it even if the contract is signed.

:roll: I have to say that I’m have not been concerned about how much more prices will drop in order to do deals.

What is it in your area that's going to cause appreciation?