(I had to do that when Countrywide said no but in fact, after I finally found out who the investor was and actually talked on the phone with them, I got approval for $7000.)Also, make sure they state in the approval letters that it is paid as agreed and nothing else is due.But I agree with Tom that you should try to turn it into a rental if you don't want to live there anymore.

Today Wachovia was cobbled up by all powerful Citi (which, weren't they in a biggest of messes two years ago).What impact, if any, would you think this might have on the closing?

So if you can not find these properties or someone else then of course he deserves it : )Figgy

It is a mess.

Hey guys how do you think this Bailout will mess with our ability to Negotiate with Banks and Sellers?

Most of the news people are reading today about our financial and housing mess is due to the improper use of equity.

Those folks can call or email a bid, and that name will go on the bid sheet along with everyone else's, for the round robin bidding on Sunday night.

If you lock yourself in an 18 month L/O you won't be able to sell to someone else for that time, so you are guaranteed to lose that money every month.The way I look at L/Os is that I assume the person is never going to buy it.

By no means am I an expert however but if anyone else can confirm this that would be nice.

Like someone else said, your credit is going to be hit anyways.