Based on the comments I plan to send a formal notice in early October notifying of ending lease January, 2025 and also offering that if they find another home in the meantime I only need two weeks notice - I really liked that suggestion.I will also require the car removed within three weeks or towed.

The broker only provided a reason for the LTV drop which is due to the appraiser's comment that says "the market is in decline."

His comment on costs was $4k-$6k but I have no idea what that includes and I think it was a guess having no foreclosure experience in AL.Do you have any good web sites I can read about the process or anything else not immediately obvious?

@Eric Burger so I have not viewed the current BP lease for Colorado so I can't comment on that.

Some loan officers can comment more on those.

Thank you everyone for your comments and advice - just within a few minutes of posting my introduction!  

Comment with yours!

I agree with earlier comments about reading up on regulations, usury limits, etc.

Finally, to answer your other comments, I think the exact right answer depends on your future intentions.

To help refine the tool, I’m offering 7 days of free unlimited underwritings to anyone willing to test it and provide feedback on how it can be improved.If you're looking to speed up your deals and want to provide feedback, drop a comment or DM me for access!