If he hasn't really messed up his credit with the late payments, and the values are correct and are the complete story, he may be able to refinance and get enough money to pay the taxes and legal fees.

My credit score good and I am self-employed.

Maybe I am too fearful but I don't see anybody on these boards talking about the credit crunch much and how it will effect their ability to resell the homes they are trying to SS.Or else, you somehow think these lenders in trouble are going to help us SS investors get more deals approved.

For such short term transactions are they charging points and fees or are they funding you more with a credit line?

She rolled her eyes and said, "if I'm contacted by another guy with no money, poor credit and a get rich quick scheme, I'm going to scream."

Today they need a decent credit score, verifiable income, etc.

Credit no problem".

This doesn't mean we've hit bottom - the credit crunch wasn't in effect in July.On the other hand (and yes, I'm a positive thinker to a fault - I drive some of my colleagues crazy), I look at it this way: If foreclosures and home prices continue to get worse (and that may well happen), people are still going to need a place to live.

We are scrambling to shore up some cash, but my business partner and I are tapped as far as credit goes.

I'm currently trying to get $1000 credit back from the seller because of a fence she put up that is encroaching on a business property next door.