Welcome aboard, it appears your at a crossroad.

I have been looking for a house for myself to live in lately. and i came acroos the dream, evrything perfect for me, it appeared that the builder ran out of money, brand new but never finished, the states web site listed it as owned by a bank, the previous owner is also listed, is this the builder??

This seems contradictory since I am essentially trying to do the same thing as a would-be purchaser, that is, buying a renovated property and financing it with a mortgage (the only difference being that I already own it outright) This new loan officer said the reason the seasoning period is different is because lenders are afraid that someone in my shoes could potentially walk away from the house once 80% of the cash was taken out of it, and the would-be purchaser has more of an incentive to actually keep the property.

Basically for all my trial and error (and sitting in your shoes as a one man show fielding about 10 to 60 phone calls a day) I found that I'll NEVER eliminate the calls, only figure out better ways to handle them.

Most mortgage lenders want all collections that appear on your credit report to be paid before they'll approve the loan.

If you have your rental in a corporation or trust you might not be able to represent it yourself as many states do not let anyone but lawyers appear in court except when people are representing themselves.

Those dots are for lenders who want to feature their company there.We need to make clear that there are definitely plenty of lenders listed already, it appears....

I have asked the tenant to run the water to see if it improves, but i also plan on going by and doing as you suggested with the water hose to flush the water heater. it appears to not be "too old", but i will need to keep an eye on the performence.

While it isnt my place to judge what lesson they should learn or what it should cost them, it is my place to ensure that i take care of me and my own so that I AM in a place to give back and help those who need it.It appears that your friends made some poor decisions and if they were in a place to remedy the situation on their own, they would do so.

Stressful experience but it seems to work for them, as many people participate in the process which keeps them in business.It appears there is no urgency to close transactions and we on the other hand are anxious to move on and consequently, frustration.