Not saying they may not be sharp folks, but as Chris pointed out, a concept in its infancy and nature of such funds will most likely have aspects that are not really directly related to institutional underwriting.

I'm not one to get deterred easily but more often than not when you get that sort of response, ones natural reaction is to second guess.  

Man with your skills you should be a natural at doing what you describe.

My light bulb went on!

Paint, flooring, sinks, toilets, light fixtures, etc are an easy quick fix and make a world of difference.

His workers spend their entire lunch break debating which is the better beverage: Coores or Bud Light.

I constantly refer them to bank-owned properties, but am much more intrigued with the nature of the starving investors and home owners who can't move their properties in those types of markets!

If someone could help me shed some light on these things I would really appreciate it.

I have just learned through a conversation with city hall that a portion of my target neighborhood is going to be involved in an eminent domain buyout at some point and it will be rezoned as light industrial.

Lack of understanding and a lack of financial planning for the future (and the natural decline of the housing markets) is what has led to the current level of foreclosures around the country today.The Pay Option Arm, like Ryan stated, is an adjustable rate mortgage with a variety of payment options (in most case 3).Option #1 is the full principal and interest payment (same as a 15 or 30 year fixed).Option #2 is the fully indexed Interest only payment, where you are simply paying the interest generated that month for the loan (same as an Interest only Mortgage).Option #3 is the minmal Interest payment (at a rate of around 1% to 3%).