There is no other "reason code" that lenders can use to characterize the activity of a defaulted mortgage.

I keep my appraisal and broker license active to fill in the gaps.

Thank you to all of you who share your expertise, experience and wisdom.I have been actively looking for my first investment property - single family home - and am having a hard time finding anything in my area that is far enough under market value to produce $100 after OE.

Literally MILLIONS of people bought homes during the boom and are now upside down on those "investments" or have already lost the property in foreclosure.On the other hand, you can make money in either real estate or the stock market if you treat it like a business and actively manage your investments.

From what I have read and heard the seller can still actively market the property to other buyers until you exercise your option.

Hello, Glad to find such an active forum with a lot of good content.

Many states and counties base the assessed value on the purchase price.

I am amazed how these people waste their precious time - by printing responce letter (perhaps it is not that precious for them :) )PS Once I recevied another "cute" responce to my marketing (via email): your activity will be reported to Attorney General :mrgreen:

The house is assessed by the county at 117K and I think ARV is probably right around 130 to 135K.

Attend RE investment clubs and talk with investors who are actively participating in the fields of your interests.