Is the rumor true?

This may not be true in other areas with different types of inventory.

That term has even become clouded as the true term is Assignemnt.I appoligize for changing the direction of this string.

That's not necessarily true: Forms/requirements/laws/needs change, and the fine print and contingencies can and do, too.

This makes no sense.First if what you write is true, BoA is asking you to do something patently illegal.Second, BoA owns CW.

If you use a hml for the purchase then a rate/term refi based upon the true value of the property will not be an issue so long as you meet all qualifying criteria.This is still possible with cash out but you'd need to use a local bank or portfolio lender.

I'm sure that's true compared to the easy money years.

Julian, for you to just jump into the commercial game is not as easy as you think.

I have posted a few of my deals and look forward to learning from all of you.My hobbies include: foreign languages, keeping exotic fish, formula 1, modified exotics; and would love to get into amateur Porsche racing, scuba and light aviation ... maybe even some big-game hunting.See ya around!

REO's are strictly a numbers game.