And personally, I wouldn't have recommended that 5/1 Option ARM on your primary unless you plan to move out of there before the 5 years was up (at which point, your payments are going to get real ugly, real fast).

Also, how does one find out if the loan being foreclosed on is a primary or seconday loan on the prop?

One area that I would say to ALWAYS stay away from interest only loans is in regards to your primary home.

NAR has great lobbying power, but the drive to open the information architecture and platforms -- aka the drive for convenience -- is dominant to resisting change in the marketplace.This doesn't paint the picture of a really strong opposition (alternative real estate models for brokers, MLS, agents, etc.), but it's a start and at least they're off their couches and into Capitol Hill, where the battle gets waged.http://www.inman.com/hstory.aspx?

Do you simply lie and say these homes are for your primary residence?

You can be tagged as a dealer if your primary business is "dealing" houses.

Generally speaking, is the cost of refinancing a mortgage usually more, less, or the same as getting a regular mortgage for purchasing a house as primary resident?

I have a couple of flips (residential home and 7 acre parcel) under my belt and I'm currently working the purchase of a 3 acre parcel as well as the purchase of another primary residence as we speak.

Anyone know of a creative way to get around the 80% minimum equity refinance rule in Texas for a primary residence.

Our customer service representatives, will work with you through out the application process, approval, building your credit rating, and resources to help you repair your primary credit file (social security).