That would be abandonment in our jurisdiction and require a completely different course of action and would return our property to us sooner.

@Chris Heeren Every state is different - check out your tenants law in Wisconsinhttp://datcp.wi.gov/uploads/Consumer/pdf/LT-Landlo...In IL the tenant has to continue to pay rent until a new tenant moves in

The simple answer to that question would be that not all lenders are created equal.It's your duty as a responsible consumer to do the necessary research on the institution and banker that's attempting to lend you credit.

It incited me into action, but cautiously.Likely without that exposure, I would have let my fear command me and would not be taking steps to try real estate investing.

Of course, you can go to court and sue to have the right to do what you want to do, but thats time consuming, expensive, and a pita that you'd rather not have to deal with.My father, brother, and me bought some commercial property back in the 80s.

There have already been a lot of good suggestions so I'll just add my piece of advice for someone new to REI; stay active, take action, and never give up.

There is no substitute for action backed up by a well-thought-out plan.  

Banks are settling rather than bearing the costs of continuing with the foreclosure action.

I am avid content consumer who is "on the sidelines".

If you are serious about taking action and not just romancing the idea of being an investor, then you could, as mentioned earlier, use credit card financing for all or part of the purchase price.