All in all, I successfully bargained up approximately $6750 from their initial offer.Thanks for the second (and third) opinions!

Third though.

However, my friend who is selling it to me has offered the following option for the 555,000 mortgage payment: first year $2000 per month, second year $3000 per month, and third year and beyond, 7.75% APR which equals out to about $4000 per month.

That was a good lesson for me to learn.I was very down because we had just had our third child under the age of four!

Woodrow Wilson and Teddy Roosevelt were also publicly known as eugenicists until the activities of a little liberal progressive socialist party in Germany made the final solution of eugenics less than popular and the third in this list found the need to employ covert eugenicists.

Did you try to have it removed yourself, or through a third party?

Realtytrac reports a 23% surge in foreclosure in the third quarter this year...

It takes the pressure off of you and the Seller puts more credibility in a third party explination rather than it coming from you.I'll think of a few more...

This could make a difference.The third position lender is the one who is getting wiped regardless; in a short sale, they will be lucky to see $1000 allowed to be offered to them, since the second is going to be taking a cut (first is not at risk in this case).

Thirdly, be aware that old debt affects your credit less so than new debt.