Without reading the article (I heard about it on the news) I'd say we now have enough national data to come to a statistical view of the national situation, that doesn't mean that every market is above water.

With all due respect to "This lady" and the other ladies, I am in a peculiar situation my wife has put me in.

Can I expect most lenders to hit me with this many points in my situation?

I know getting it sold in 7 days will be a challenge, has anyone had experience in a situation such as this?

Is it still recommended that I speak to an attorney or is this situation simple enough that doing it myself through Legal Zoom should suffice?

Fortunately for you that is not your situation.

As long as you have a land contract set up and not a rent with option situation you are fine.

They may have gotten this ina bulk buy situation from a bank and only looked up the taxes and based on that set the price.

I got a quote from National Real Estate Insurance group but the min. deductible is $3k, this seems really high for my situation.

You could bring in a money partner to stabilize but getting something is better than losing it and getting nothing.You could also look at selling to a land holder or a developer for cash to tear it down and rebuild something better.You can also approach your bank and explain your repair situation and see if they will help with the repairs to protect from a default and huge loss.Some small banks will do this sometimes.To the big banks for the most part you are just a number and a loan that has to be worked through.A HML loan will eat you up and I don't recommend that.A regular lender will not touch a property like that.