In mine there is a set of usual and customary closing costs that each party is responsible for. 

Thanks all for the responses.

You mention 50k in one of your 11 responses to your own post trying to promote your property, and you mention 45k above. 

So far mailers are the best response here.

@John Leavelle Thank you for the detailed response and insights, people like you are what make BP great. 

Hi, thanks for the response!

Shows that they take responsibility for the issues they got themselves into.

Check out the web site for Dave Ramsey to get started on fixing your credit.

Great answer above and I will simply reiterate that utilizing leverage at low rates to invest in other cash producing assets creates arbitrage and so long as you use the leverage responsibly and you do not over extend, I think it is a great idea.

Just throwing this out there to see what kind of responses I can get.