if this is an owner occupied property and the loan was used by the owner to buy the property to live in.. then they are by federal law able to request a 3rd party mediator to meet with them and a representative from the bank and try to work out a re pay planthe issue is many in foreclosure never follow up on this and basically waive their right to this meeting. that would be step number one get into the federally mandated mediation if the owner and the property qualify.

What will not happen is an industry mandated solution.

Many people claim you need one for risk mitigation, but you can get an umbrella policy on your homeowners insurance and mandate your tenants get renter's insurance with you included as an interest or insured to help mitigate this.

So I trade risk related to out-of-state investment, with risk to hold huge leverage in over-bloated market in tenet friendly state, but I am losing opportunity to build a skill-set of out-of-state investing which will help me to scale faster and be flexible in the future.If we buy cheaper house but further from the city, we will spend a lot more time in the commute(3 days in the office mandate), in this case we will trade time(commute) for money(affordability) it makes it not an investment, but another work.

I do not believe the government should be able to mandate a change to existing contracts.  

You are correct that the state allows a jurisdiction to mandate owner occupancy.  

This means they must provide credible evidence to support their claims and comply with all substantiation and record-keeping requirements mandated by the tax code.Despite the taxpayers' testimony that the RV served as a boat sales office and provided nighttime security, they failed to produce any records or documentation to substantiate these claims.

Communities such as Berewick a huge master planned community is mandating that you can only own 1 rental property in the community.

I was never the one targeted by these programs, but the servicers went beyond the mandate and tried to refinance everyone they could.For me the key in refinancing was not to take cash out and do not extend the duration of the loan.

It’s crucial to acquaint yourself with FIRPTA regulations, which mandate income tax withholding on the disposition of U.S. real property interests by foreign individuals.