My agent tells me that HUD called him and wants the packet on our back up offer (put a bid in on a house last week but came in second).

HEL - Home Equity Loan- usually fixed end second mortgage.

Second, it will help you get into markets that can be harder to get into, like the luxury market.

I should have explained that that was an exagerated personal observation.I'll second all cash's other observation in that you should NEVER cover old siding.

Afford the negative rent while waiting for appreciation or invest your own cash to dump the property.Buying your next home may not require cash out of your pocket but I would try for 5% down minimum to secure a good interest rate.But, have you looked into a second or third opinion about your house value?

If the first doesn't exceed the second you're thowing money away!

I happen to live in a small town that is listed in MSN's emerging top 10 'Places to Buy a Second Home" and so people are doing very well with investments and flips in this area.

Possibly pay cash for your second property and so on.

Secondly I will be attending a local sheriff’s auction on the 15th of next month.

second question:if i want to put biggerpockets on our site as a link - whom do i contact?