In other words, not resold to the government so the bank had more flexibility on the condition.I look at the original commitment letter and it states "xxx amount will be advanced at closing for the purchase of an investment property, and the remaining balance of the loan to be placed into an escrow account to be disbursed as improvements are made".No points, and only one closing, so I don't have to deal with a short term HML that I have to refinance in under a year.Hope that helps!

It can be personally designed post cards or it can be letters. 

There was quite a bit of unused land and the zoning gave me some flexibility if I wanted to expand various aspects of the property.Also the self storage units were all below market rent and the seller was willing to finance at a decent rate with a 5 year balloon.

I don’t know if the cause was fraud, incompetence, or a combination, but it is really sad.I was able to work directly with my borrower and my loan is still performing (amortized it rather than keeping the balloon). 

I’ve sent the seller a demand letter, but instead of honoring the contract, they offered me money to walk away.

Plus I dont think any contract would hold up if a seller wanted out.this goes for unsolicited  yellow letters/ robo calls / robo text style of marketing. 

I had a STR for about 4 years before Fort Worth gave me a letter to stop.

They have a balloon payment for the principal due in 10 years.

Fast forward to the end of the deal and we have been trying to get  payoff letter for weeks to no avail.

We repeatedly explained that it’s not done that way in New York State: here, you send in your articles of organization to a state office and they send back a letter with a state seal acknowledging they received the documents.