What do you do when your seller isn't forthcoming with the financials, receipts, tax documents, etc.

My business partner and I went as far as getting the contract sent to us and it looks like something made from a Word document.

It's a normal cash out refinance with the extra documentation of your closing statement (HUD), purchase contract, escrow instructions and copy of the deed.You can get a new appraisal to accomodate the new value, but you are limited to the amount you paid for the property and what you can document you spent in repairs.

Cancellation of Debt is not *always* taxable.Check out this IRS documentation and see if it applies to you.http://www.irs.gov/uac/Home-Foreclosure-and-Debt-Cancellation

If any of you have; what has been your experience, with using these documents.

It's the fact of the initial sale that triggers the clause in the mortgage loan documents.

I am going to put together a document or powerpoint showing exactly what I am looking for and what not to send me.

According to that chapter, an “outright gift of the cash investment is acceptable if the donor is” one of the following: The borrower’s relative / family memberThe borrower’s employer or labor unionA close friend who has a “clearly defined and documented interest” in the borrowerAn approved charity organizationA public entity or government agency that offers assistance to (A) first-time home buyers or (B) families with low to moderate incomeThis just handles the down payment funds.

What I have found is up to 18% rate, that's seems so high to me and that's with providing income documents and $10k down.

You might buy with a 15% discount, depends on the note, the history, the documents, the collateral and the seller's motivation.These private notes  are dealt with one on one.