I have wanted to move to the country for a VERY long time. I have always felt that my husband just isn't interested in that. We own 2 homes, side by side in a city. One is my parents old home and the other I bought. Neither is in great shape. The one that I bought was basically a unsound shell when I bought it. We have done a lot of work on it, and have matched the purchase price in repairs, and it still is now a sound shell of a house. It will need new wiring (the person who I bout it from used remnant wire,) walls, cabinets, and fixtures. Basically it is a shell. On Sunday I was delivering eggs to our neighbor and he wants to buy it, as is, for slightly less than we have in it. He has a brother and a sister that are getting ready to come here from Vietnam. At first it was an adamant no, but I said I would discuss it with my husband and see. We haven't done any work on it for over a year, except in the past couple of weeks we have been cleaning it out. We decided that we would think about it and see what was meant to be.... Long story shorter... I was looking at property online and I found a HUD home with 5 acres. We went a looked at it, and decided that we would try to get it. So I called the listing agent and they said we need a pre-approval letter before they could even bid on it. So my husband went to the bank. Here is where I get lost. Since it is a HUD home they are talking about a temporary 6 mo loan based on our equity in my parents old home(20% of the cost of the HUD home), and then a 2nd loan for the HUD home that is 80% of the cost of the home. They were not even taking into consideration the 2nd home we own, because it is not in a livable state. They submitted the loan application this morning and we should know something in the next couple of days. I may be just getting excited about nothing because it may come back denied. I REALLY do not want to get into a situation where we will ultimately end up on the street with the bank owning everything. So I need help understanding this. Thanks for all your help!