The borrower defaulted on a loan that I'm involved in.

@Justin Dixon, (thought bubble): I'm often curious why so many people look to buy homes, when they're in no better borrowing shape than the current owners - but are still surprised it's so hard?...

Also, as far as paying it down faster, I'm not concerned so much with having equity to borrow against as I am with just getting to 80% LTV so I can refinance to conventional, remove PMI and find another property to get an FHA on!

I was reading recently that foreclosure auctions weren't that big anymore because banks are more willing to work with borrowers instead of foreclosing.  

@Justin Dixon I'm assuming the bank is going to require that you are not borrowing money to come up with the down payment.  

Borrower needs to be involved to complete a short sale. 

If you buy as investment fix and flip then you have to go hard money or Alt A then the rates would be higher. should not matter whether you are out of state or not we deal with many out of state borrowers. the normal practice is go hard money get the property stabilized quickly and then refinance out to a landlord product if you are buying and holding Jerry  

At the very least, I want to be able to stage my vacancy just for the photographs.Some people might just borrow and bring their own furniture from home to stage a vacancy.

However, when an IRA uses borrowed funds to invest in real estate, it will subject the IRA to UDFI a type of tax.

Once you pay it back you can't borrow it again without restarting the process to take out a loan.