The house has outstanding taxes (the $7K) with a face value of $100.6K.

You only pay interest when you borrow against it and while there is an outstanding balance.I have someone I can recommend, if you want to discuss with a professional.

Generally speaking, stay in areas East of the 75 highway that runs thru the city. 

You do accumulate an outstanding balance which appears on your credit, but not as delinquent. 

Hey Scott,Michael and I are working on rehabbing our 3rd cabin along highway 2 before Stevens Pass.

The Line of credit is tied to a zero balance sweep checking account, so every regular checking deposit is swept towards your outstanding balance, saving interest cost.

Typically 2nd mortgage liens are dropped at a courthouse sale so you're just looking at the actual outstanding mortgage amount.The only issues is they don't post this information on the trustee websites until a few days before the sale so you've got to be prepared!

Unless you can get the owner to give you a deed in lieu of the obligation outstanding your interest may be limited to the amount of the lien or mortgage and interest set by law.

In addition, the Accord gets an average of ~25mpg, while the Accent is rated at 28 city, 38 highway.

@Jonathan Smith If you're at all familiar with Dave Ramsey's story, he went bankrupt due to the bank calling all of his outstanding notes.