I own a condo that I'm currently evicting the deadbeat tenants from. the place is a loser and I dont want to keep it. Problem is I dont have a whole lot of equity in it (about 20k, comps at 180), and if I list with a ...

Generally speaking, you will need a mid FICO of 620 (circumstantial exceptions made) for to qualify for the My Community program; other issues to be mindful of:- Owner Occupied transactions only- Borrower can not own any other propertiesNeed a 660 mid FICO/Full DOC/50 DTI to go 100% for NOO properties (100% with SIVA needs a mid FICO of 720).

This new policy came into effect in Summer of 2006.

How does that effect getting a property below market value.Im just looking to hear how others are making out!

Thanks for the participation.The questionaire is mainly to determine peoples knowledge on the matter.There is a alot of hype on renewable energy technology in the home,this research is to prove that insulation is more effective than renewable energy technology.If everyone knew how energy efficient insulation can be then government targets can be easiliy met.

Secondly, to have an IRA fund a portion and you fund a portion requires a lot of things as an IRA owner may not personally benefit from the IRA investments (prohibited transaction), as such, certain requirements must be followed to do such a thing.Also, there was mention of buying, fixing, then re-selling.

And this money is not taxable, and you can also later do a 1031 tax deferred exchange and eliminate your capital gains on that specific property.Also, this effect is compounded if you want to take you new equity and cash out refinance and use that as a down payment on a new property, and simply keep that cycle going.

The agent should handle most of the transaction if the property is currently listed.

purchases are $5-10K a house with price (rehab and purch costs) around 10-15K After we rehab them, we want to sell on land contracts for a contract value of 35-45K couple questions: 1. can this transaction qualify for tax credit 2. what should I be concerned with IF tenant flakes on contract, and I sell the cashflow to note type buyer?

They state that you have enough available cash not tied in long term investments in your account to fund the transaction.