Originally posted by J Scott:For future reference, consider looking at HUD properties...they give preferential treatment to owner occupants, even when there are lots of contingencies...sounds interesting , I'm hoping not to have to do an owner occupied again ( unless it's an sfr) , but we were starting to look into the 403K loans - seems to be some kind if government sponsorship for programs like that. are those similar to how the HUD homes work?

The owner owns 13 body shops in the area and is very reputable.

It's the government intervention that forced the liar loans in the first place, if they'd keep their noses out of the market it would correct itself.

It does not matter if that's a private concern or governmental body of some sort.

allow me to reiterate...you are buying a two unit property for a little over $10,000 out of your pocket out the door using a loan insured by the government in the midst of quite possibly the worst housing crisis in american history.

IMO the government caused many of our problems and is using the bank's as scapegoats to shield the blame.

Under the new legislation designed to help small businesses was a small add on that is now going to require landlords to issue 1099s to any contractor performing services like repairs over $600.http://www.allbusiness.com/government/government-procedure-lawmaking-legislation/15166028-1.html

Smaller banks with larger inventory might forgo the no assignment clause since they aren't backed by the government bailout and they need to get rid of their inventory as quick as possible so you might want to check that out otherwise any larger bank will not entertain an assignment.

They say what theyre going to do and most dont, my thought is the government will over-rule no matter what we say or do.

Hi Nathan,In your area, there should be a local government housing authority that handles manufactured housing.