What are your loan terms for various credit scores?

Chances are you will - have a deficiency judgement, - if there is a second mortgage you will owe that money, - the IRS views the debt as forgiven income (see a CPA), http://www.irs.gov/Individuals/The-Mortgage-Forgiveness-Debt-Relief-Act-and-Debt-Cancellation-- your credit FICO score will drop as much as a foreclosure,and - your borrow-ability with any government agency like FHA will be harmed for a long time.So what is left?

Using HML you will need skin in the game.Conventional requires 20-30% down if the property (and your credit) is even bankable.

We do not have the "credit"system like here in the USA.

Thank you for that information.It is suggested that you only use credit cards for recurring and online charges.

Her credit score was in the 560s and I took a chance on her as she told me that her ex-husband ended up ruining her credit score after the divorce.Looking back now, everything she said seems be true and I think her credit score should be 800, not 560.

Things that do well in a normal business recession, can be horrible places in a financial credit recession.If a recession is coming in the next 1 to 3 years, two strategies makes sense:1) short-term investments that will mature in two years or less.

To answer a small part of your question they have something called Pat Live. answering service that you can have a live secretary field your calls when your out and schedule apts and take messages. they can screen calls and funnel them to different places too. for example if I was trying to sell a home and i wanted these message boxes one for credit buyers another for buyers with down pmt but no credit and the 3rd in another message box.

My realtor did find me a buyer, and they are willing to pay a reasonable price, however they don't have the best credit and want to put down $20K (inheritance money) and the rest via land contract for 2 years until their credit improves.

I am looking for a local bank or credit union that will do a cash out refi to pull a little money out for down payments, because I definitely want to pick up some more properties.