Replace matured or payment default loan with loan of greater amount and pay off all arrears3.

Because the HELOC is now in 1st position (not 2nd behind a mortgage), so they have the full value of the home as collateral if you default. 

We'll then write a promissory note for the amount, maybe attached by mortgage (if not, a lawyer said attaching a judgement lien upon default isn't too hard, provided no chapter 7 bankruptcy filing).Has anyone done this post closing?

If our standard lease wasn't in effect, we would default to the in place agreement. 

The pitch generally mentions that it's easy to take the property back in default and then just keep reselling to new buyers over and over again.That's not my model, and it's always a pass.

I wanted to provide some feedback to the developersRequested features:- Save basic values from last calculation or default presents: interest rates, loan term, variable expenses, etc.- Small notes section to elaborate on property calculations, such as noting the calculation was based on a loan assumption or short term real estate strategy - Ability to edit name of calculation to something other than the address.

With 14,000 down it should be a pretty nominal risk of default. 

It really doesn't bother landlords...The main risk for you is if you pay out a commission, but the tenant defaults before you recapture your commission amounts.

@John Aaron I'm guessing that you might be using the 2-T (NC standard contract), which includes default language that the contract cannot be assigned.

I sold it at 7.5 percent over the course of 30 years and if the party defaults i immediately retake possession pocket the hundred thousand and the months of 7,000 payments and now I have an asset that is probably worth significantly more then when I sold it.