I'm a very small fan of Dave Ramsey, so I'm not looking to mimic BRRR or FIRE, especially since I'm now 68 and perhaps a little late to the party.....cheers!

We love 3rd party software, makes life a breeze!  

Defaults and Remedies A default exists under this note if (1) Borrower defaults in the payment of this note or in the performance of any obligation in any instrument securing or collateral to this note; (2) (a) Borrower or (b) any other person liable on any part of this note (an "Other Obligated Party") fails to timely pay or perform any obligation or covenant in any written agreement between Lender and Borrower or any Other Obligated Party other than as described in (1) above; (3) any representation in this note or in any other written agreement between Lender and Borrower or any Other Obligated Party is materially false when made; (4) a receiver is appointed for Borrower or an Other Obligated Party or any property on which a lien or security interest is created as security (the "Collateral Security") for any part of this note; (5) any Collateral Security is assigned for the benefit of creditors; (6) a bankruptcy or insolvency proceeding is commenced by Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party; (7) (a) a bankruptcy or insolvency proceeding is commenced against Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party and (b) the proceeding continues without dismissal for sixty days, the party against whom the proceeding is commenced admits the material allegations of the petition against it, or an order for relief is entered; (8) Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party is terminated, begins to wind up its affairs, or is authorized to terminate or wind up its affairs by its governing body or persons, or any event occurs or condition exists that permits the termination or winding up of the affairs of Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party; or (9) any Collateral Security is impaired by loss, theft, damage, levy and execution, issuance of an official writ or order of seizure, or destruction, unless it is promptly replaced with collateral security of like kind and quality or restored to its former condition.

. - $45k balance (40% of BPO value)- 7% rate- interest only- maturity date 2/1/2026- mortgagor (owner) pays 3rd party servicing fees what is the value of the property?

It's a situation where if it was a springer episode each party would have to be separated after the fist fight/hair pulling contest with one getting thrown in the crowd. 

If you own the house together, the only options are for one party to buy out the other or sell the house.

He can try to work out a modification of the loan in some way, and there are literally dozens of different types of modification that may be appropriate for any given situation and may prove beneficial for both parties.  

Taking legal action against another party necessarily involves questions of law and can result detrimental legal impacts on him if he files a lawsuit without proper grounds to do so, or where the opposing party may have counter-claims against him.

As for gray areas in contracts, the courts will almost always find in favor of the party who did NOT write the lease.  

Both Democrat and Republican presidential campaigns have found common ground on housing policy by proposing the use of federal lands for homebuilding.