Here's a simplified explanation for regular W2 employees.

We countered with $1K contribution from seller and abruptly the offer was declined by Freddie with no explanation except for "unjust hardship" They would not elaborate any further.

The traditional explanation of a combination of high consumer and business debt, ill-regulated markets that permitted malfeasance by banks and investors, growing wealth inequality, and natural disasters such as the Dust Bowl and 1926 Miami Hurricane creating a downward economic spiral of reduced spending and production are also offered as alternative explanations.

It gives a great explanation of analyzing the financial metrics on properties.http://www.biggerpockets.com/renewsblog/2010/06/30/introduction-to-real-estate-analysis-investing/

I would suggest send a letter of intent with an explanation of the price you're offering.It does indeed sound like it could be a great deal if you get it for the right price.

The application has been conditionally approved and the bank is asking for an explanation of the funds are intended to be used.

I'm thinking of putting in a call to my attorney again today for a more clear explanation of the probate (non) issue.

Thank you all for your advice and in depth explanations; it was what I had in mind but we've only been managing properties for a year (we've been owners with a management company for 6 years).

Hi @Brent Coombs,I see your point, but I have to stand by my explanation and I'll tell you why.In a wholesaler-hater state like Ohio things can really complicated.

My geographical area of focus is Bell County, TX.