The market and the economy is more or less being held up by the mining/resource sector, which has shown signs of a potential slow down recently.

The government is severely limiting the recovery of the housing market with these antics.

Our governing docs state that you can have a storm door but must match the trim and/or door color.

I use a customized spread sheet which allows me to calculate the difference between cost of Short Sale vs Cost of Short Sale... with the average time to foreclose now well over 500 days, the biggest fear of the lender is to tie up the property for a year and a half in default... the SS is best way for getting around the time suck, and government interference...Take advantage of the tension between the servicer and investor...

It depends on your appetite for investment.Too many other less risky properties with excellent returns nationwide to pursue this type of stuff.Some people love it.I know developers still building with Go Zone in New Orleans.When it's about Government and money it will be a long drawn out ordeal.The Government takes payment fast and pays out slow.It's the American way>>>>>>> :)

Just keep you grades up, B or better is what the government likes to see.

I might be wrong on this but didn't the banks and government have deed restrictions on most house up till the 70's and 80's then most banks took them off the deeds.

One other option I find, since I enjoy doing the "hard work", is government grants.

The government passing the Tax Reform Act of 1986 is totally unpredictable.

-The existing loan is not currently a government backed loan (7a, USDA B&I, HUD, etc).