One caveat is that the current owners (the defaulted borrowers) may have already exhausted most of the "stalling tactics" that occur in pre-foreclosure, to the point where the lender / servicer is going to foreclose on a certain date regardless of whether a short sale attempt is in progress.

Friday morning the capenter and I stopped by to give it a second look.

Agreed, and even then, most banks will use the purchase price for upwards of a year.I don't know if you're trying to use the value as a way to borrower more, but if you are, that's not a viable tactic in this market.

The goal is 10 over the next 2 years;- Found out that the one portfolio lender in Atlanta (at least the only one I know about) stopped lending on rehab properties, so my major source of leverage was cut off;- Raised $150K in private money...a first step to replacing some of the leverage lost when my bank stopped lending;- Put 3 properties (to be flipped) under contract, though one fell out of contract during due diligence;- Haven't been able to get a contract on the one property we've had listed for about 3 weeks;- Despite lots of offers, haven't been able to get contracts on any of the other properties that we've had listed for other investors (one of the slowest months I've seen for buyers in several years);- Got lots of "nasty" emails from blog readers asking why I've slowed down my posting... :(- Had the IRS issue a ruling on my use of a large chunk of my retirement funds -- they determined that I get to keep my money

This is posted at https://www.gooddealzone.com/financing/100_ltv_loan/100-ltv-loans/Repayment: $500 per month for every $100,000 borrowed (equivalent to 30YR Loan at 4.375%)Origination: 15% origination cost (can be paid out of loan proceeds)PAYOFF FEATURE:If all payments are made on time, no balloon payment is required; loan will be forgiven at month 60, and you will get a free and clear title in five years.So, literally, for every $100,000 borrowed, your repayment equals $30,000Raymond

Original Borrower is deceased and heirs aren't sure if it was paid off or not as they have no record of a discharge.So this one might be at WF but I'm checking with you guys to see if there might be any other financial institution whose servicing old HSB loans.

I too agree that the amount your allowed to borrow is really just the limit but you don't have to buy at your limit just buy what is comfortable.

Here are the 4 linesTotal Interest Applied 2011 $xxx+ Payments Applied to Previously Deferred Interest $xxx+ 2011 Interest Applied (Prior Years) $xxx= 2011 Mortgage Interest Received From Borrower $xxxThe mortgagor refinanced in 2011 tax year.

My thought is that with an LOC I would have additional borrowing capacity to jump on cash deals if needed, as well as float some of my current renovation projects between construction loan draws.They offered me a $140k interest only LOC, 2 year term, 5.75% interest.

But, the broker that I sent her to refered her to a credit repair co.the FHA website states "borrowers with credit scores between 500-579 are elgible for a maximum FHA loan of 90% LTV...."