I think I've had 8-10 short-term rental and long-term rental deals close with this other program in the past two months alone.If you are in need of a new prequalification letter and a different look at the deal from another program, I would be happy to help before we hit the weekend.

I would mail them a letter or put them on notice.

They are now sending letters to National REIA clubs trying to book presentations.Tom DagneySJREIA - President

Would help if DSCR is >1.25x, a credit >760 and if willing to do a 5/5/5/5/5 prepay instead of 5/4/3/2/1 So basically any 50%LTV/DSCR 1.25 is sufficient to get the best rate.Don’t you think with the rate this good , all MF syndication that near the 5 year balloon repayment from commercial loan , could just switch to 30 year fixed-rate HML loan ?

That would be his issue with his lender.You would have the option of forcing him to complete the deal, he then has to work out the problems between himself and his lender, that is none of your problem or business.Have your attorney or the real estate agent's broker send a strongly worded letter as a warning about the consequences ( a lawsuit he is unlikely to win).

I've done some research and see some suggesting randomly showing up at the house (don't want to do that) or sending a letter/mailer (those things are usually thrown out).

What you have described is a garden variety land contract with a two year balloon.

If no one answers the door, you can put that in a letter / notice and post it on their door.  

If you have no lates in the last 12 months and re-established credit meaning you have atleast 3 tradelines you have made ontime payments on for the last 12-24 months you may be eligible for VA financing with 580 min or lower scores depending on the scenario.Most of the time these type of files with be a total cluster and require 30-40 conditions ranging from letters of explanation, additional documentation, and or other to close.

A lot of those letters are fake however and we double check their authenticity with Pet Screening.