[Ellis]

...mortgage? i just lease my previous principal residence in FL in April 2010. Now im planning to purchase a 2nd home in Cali. However, i have encountered a lot of issues regarding qualifying rental income towards 2nd mortgage due to the buy and bail scam. I do not have 30% equity on my first home. I purchase my 1st house for 165k and the balance is 130K, the value right now is at 128k. Is there any way to qualify this because my purchase price for the 2nd home is very limited? I am planning to purchase a home at a price between 350K to 380 planning to put a down between 15-20%. I have good credit and my only debt is the house in FL.