There's a class action against the lender and they won the settlement, but the BK is there.. tenant screen came back as declined, since I think BK within the past 10 years is an auto decline.They are honest with me from the start, which is a plus but I'm having a hardtime explaining to my spouse about this.

Also, depending on your state you might be able to use the same attorney to handle your settlement.  

Both sides generally pay a $300-500 settlement fee.  

If not, ask if there is some payment incentive that would encourage tenant to sign early termination and be out by settlement, then negotiate who would pay it, you or the seller.  

That means` clearing the mortgage, usually not an issue at settlement. 

This would be done on the settlement statement.

DATA STANDARDS The CFPB requires data and documentation standards for all entities that service more than 5,000 loans through the Mortgage Servicing Rules under the Real Estate Settlement Procedures Act (Regulation X)7 6 Ibid. 8 PROPOSED REGULATORY PRUDENTIAL STANDARDS FOR NON-BANK MORTGAGE SERVICERS and Mortgage Servicing Rules under the Truth in Lending Act (Regulation Z),8 collectively referred to as the “Mortgage Servicing Rules.”

Many tenants know that insurance companies hand out easy settlement money even for frivolous cases, and it's all too easy for them to find some shyster lawyer to represent them...just ask me, as that also happened to me just last year.

These are blood-suckers going after the pot of gold because they know there's a very good chance they can scare the Landlord into an out-of-court settlement, wherein they'll get paid handsomely.

Dry closing is a settlement where money is not disbursed until the issues are settled.