I’ve learned a lot by reading the boards here and will continue.

Special Forbearance - A special forbearance is a written repayment agreement between a lender and a mortgagor, who contains a plan to reinstate a loan with at least three mortgage payments due and unpaid affect your ability to bring your account current.

You could pay off the bank in cash or get some quick financing to repay the original loan.

That, or do you have any suggestions on how I can continue to live the style I am used to while still capitalizing on the great real estate prices out there now?

Expenses on the other hand, may continue to rise.Rentals are a source of income right now.

If I don't convert to a residence before January 2009 my rental formula will kick in reducing my exclusion 21/2 years later.Why hurt small investors just to pay for giving new home owners a tax credit which they have to repay anyhow.

I cannot go for this without first asking here...This looks like it will cash flow but I must keep in mind that I have to repay that HELOC or Refi in a year and cash out if possible.Price: 123,500.00Down :3% 3,705.00Closing Cost: 1490.20Repair (Heloc at 5.24)% 20,000.00Out of Pocket: 25,194.20Mortgage Rate: 6.30 Rental Income: 2,250.00 Monthly AnnualGross Potential Income: 2,250.00 27,000.00Total Expenses: 1,265.00 15,180.00Net Operating Income: 985.00 11,820.00Debt Service:Mortgage:741.50 8,898.00Cash Flow:243.50 2,922.00

Same thing for your situation, they can't demand everyone that works at this website have a RE license, maintain status, and continue education.

Why not just continue phelps news, here.

Im just taking the baby steps right now but its exciting to continually learn new things.