Ocwen makes close to $750,000.00 Cash on every $250,000.00 Foreclosure it assumes!!!

So I will assume $80K is doable.If you can live on $25K gross income, that means you are extremely frugal/resourceful.. and that your costs at at most $25k (unless you are living beyond your means).So Now you are $80K income, say taxed at 30 = $54K net - $25K = $25K of annual savings.

Folks who were just assuming their pensions and social security would support them in a reasonable lifestyle may be in trouble with the funding for that pension dries up.

Assume that this lot sells at its list price, $750k, and assume that the per sqft price of land is the same for the two lots, then the lot of the first house worths $750k*(50*90)/(70*95)=$458k.

Let's assume you can beat the odds on the 50% rule slightly and are able to see $1,100 a month before debt service.$1,100 - $1,335 = -$235 (negative cash flow)The 50% Rule isn't perfect for every property on any given year, but comes damn close over a long period of time.

The bank will establish a minimum price, assuming you're talking about fore closures.

I assume that since you can't afford a year off

If you're working on saving, I'm assuming a day job.

My income isn't very high so I assume I will run into some issues when I apply for the loan on the next one.

I don't know if the down payment for the 50% rule is assumed to be 20%?