They do not want to foreclose and will likely work with you to refi or modify your loans.  

I started modifying my strategy about a year ago in anticipation of a downturn. 

No Late payments on credit report does NOT mean that no negative itemsNo FREE 3 months - comes at a costShould only be used as LAST ResortForbearance = Deferment of payments and result in modified loanCredit will take negative hitForbearance is negative hit to creditModified loan is negative hit to creditHarder to get new loanTo qualify for new loan after forbearance, need to show 12 on time payments from date which loan was modified (date started making payments again)Applies to ANY loan - even REFIMassive Volatility:If huge increase of owners need to take forbearance, servicer of loan is still responsible to pay end investor.

You should have modified the contract when they pushed inspection date back, so if all else fails there is your $1k lesson.

Great letter and I will incorporate and modify this to our specific needs.

Modifications to your contract, assuming you have a contract, are legal matters so your real estate agent shouldn't be legally involved with modifying your contract.I agree with some point of the other two posts. 

We agreed to modify the contract to Option #1, drop the price, and close as scheduled.

Especially ones with modified exhausts or motorcycles.Other than that, it is close to shopping highway, arteries and it's decent location.I plan on renting the property after about a year or so. 

"You must either modify your dreams or magnify your skills""Don't ask for security, ask for adventure.

Natalie in your opinion do you think the time limits on 1031 exchanges might possibly be modified/extended by the government, given the difficulty of doing business while Covid 19 is still a concern?