They are correct in that the government has put this in to place in order to "help" new homeowners get a good deal, at the expense of the financial institution truley getting it's best price for a home.

Originally posted by James Martin:Investors may use 75% of anticipated rent based on appraiser's estimate to offset against the subject property monthly payment.That depends on which idiot you speak to at BofA (they administrate the VA Vendee Finance program for the government).

They borrow from the Fed and buy treasuries, and effectively get free money from the government, risk free.

Finally, he advised i buy a house by taking advantage of 2 separate government programs (i was making less than $35,000 at the time which to the Fed made me poor).

I am not sure what that will do, other than make me feel better, as I have done the same before and the government REO don't seem to care a whole lot when their rules are broken.

Usually the government seizes it and ends up in a government auction at some point.

There must always be reasons behind the rules governing group's behavior.So here I am.

And he provided a formula for doing that.As far as coming up with the formula to continue receiving grant money, I guess you could say that -- he first theorized the formula while he was in the Navy, an organization fully funded by the Federal government.

Yes, it depends on the bank, but Fannie and Freddie have 15-day first look periods and HUD has a 30-day period for OO's, government, and non-profits.

Instead, it depends on where the entity was formed and what law governs its internal affairs.