As the higher rates have taken effect, some borrowers have found themselves unable to afford the new monthly payments.

I'd like to eventually find my rentals making enough money to stop working full-time, or sat least allowing me to go into an enjoyable business of my own with little financial stress.I like to think I'm in a good position to get started...but what do you think?

Obviously high traffic areas (stop-lights, exit ramps, etc.)

You might consider just going to the bank and borrowing the money.If the seller is truly desperate, YOU will be able to set the terms.

The buyer/borrower is the one who offers the lender the lien so the buyer/borrower is providing the mortgage to the lender and signing a note to define the loan terms.

Obviously, in terms of the "Big Picture" there has been a crisis of secondary market confidence with regard to the enormous increase in borrower delinquencies and pending or actual forecclosures which has led to a major culling of the ranks of wholesale mortgage lenders... now probably close to 125 lenders who have closed up shop within the past 5-6 months.Actually, many of those lenders were little more than "Super Brokers" in that they relied upon warehouse credit lines or correspondent relationships with "Big Brother' lenders.It's somewhat analagous to our belief in the notion that a $100 bill is actually worth $100.

IMO borrowing against your equity is a very bad idea.

If the original borrower can't make their payments, at least there's a chance you can.

Occupancy Owner Occupied, Second Home, Investor Interest Only Option Up to five (5) years interest only, then P&I for the remaining 25 years REQUIRES MI LTV Limits Owner Occupied, Second Homes, 90% NO MI LOAN Limits $1.25 Million Credit Score Requirement: 760 International Borrowers are eligible for this program @ 80% Close your Daytona Condotel in an LLC - Requires Personal Guaranty; Does NOT report to personal credit unless there are lates or default --------------------------------------------------------------------------------80% LTV for condotels if credit scores 640 - 759--------------------------------------------------------------------------------No prepayment penalty******** End Quote ********With regards to commercial or residential status, that depends on where the property is located and how often you stay in the property.

There are hard money programs that would allow the borrower to get to 100 CLTV, but it would require increased seller participation (on the magnitude of between 35-40%).