Such increased values are not taken by insured lenders.I can't change what the rules are, lower of cost or market, 12 months in RE valuations (marketable assets are different, they go at current book value, a horse of a different color, but I'd also say in reality, that any security that jumped in a very short period to double it's value probably wouldn't be taken at current book as collateral as it would be considered a very volatile security).The rules and regulations as well as definitions are what they are, opinions won't change them, I didn't make this stuff up, they have been effective for decades longer than I've been in business.As I mentioned, there are folks on BP who disagree, some for the opportunity to disagree, some to validate what they do, some have other motives, but it is what it is, you'll do better my understand the how valuations are treated.Point made on accounting matters, we are getting off topic in David's success story as the topic. :)

The end goal will always be to eliminate the debt service no matter your risk tolerance.

I am looking for effective mailing/wordage that I can use.

I would also suggest you becomve pre-qualified for a mortgage to eliminate any surprises.

You will begin experiencing side effects before most of them go off.

Mortgage Brokers were just handed a whole new batch of regulations through Fannie Mae, effective Jan. 1 (It's become more strict/difficult to get loans in some cases).FHA just scaled back their loan limits.

Documents need to be under the concept of dual control or limited access in verifying aspects, you keep the borrower out of the physical control of documents to eliminate or reduce fraud or misinformation. :)

(still learning how to use it best but getting better everyday)My website is almost up( hopefully today), got my Bandit Signs ready, working on a nice,specific Absentee Owner list, have my cards, flyers (still refining them), learning the complicated Probate process (which is becoming less complicated thanks to your posts), got access to MLS (through a friend) and the www and learning about the beauty and effectiveness of the Social Networking World (one scary puppy I tell you!).

All third parties are hereby put on notice that any leases, assignments by the Landlord/Seller, liens, options, mortgages, or any other conveyances or transfers occurring subsequent to the date of the Lease/Option are hereby declared by the Landlord/Seller to be null and void and of no force and effect.

What are the terms of the mortgage (fixed rate, arm, time left on the mortgage, a balloon note etc...)I can no longer speak intelligently about wrap sales because of the new laws that have taken effect and I have not kept up with them.I hope this helps.