Thank you for the clear explanation, we found some of that through our research before we bought the house.

The application was confusing and asked questions such as "Future rent - Yes/No" with no explanation of what they were asking.  

Thanks for the explanation.

In the explanation of what an ARM is and why someone might prefer it, the course mentions that hybrid ARMs often have an initial fixed period of the loan in which the interest rate is usually lower than what you might get with a standard fixed-rate mortgage.I was wondering if anyone had any experience or thoughts on using this initial fixed period to obtain a low-interest rate and then refinancing to a fixed-rate mortgage before the ARM is adjusted.

If the tenant brings it up your explanation is that this person has been paying partial rent late and you were simply trying to remove them from your rental.

@David - it is my understanding based on explanations I've received. 

If you're looking for a lender/broker,  you could try guys like @Tarik Turner, @Jared Rine or @George Despotopoulos.They are all over BP with good explanations of situations, sound pricing examples and reasonable LTV's. 

@Bill Brandt, thank you for that explanation.

You sell for 200K you would owe Capitol Gains on 75K (if you owned for longer than 1 year)  This is a simple explanation. 

What is your lawyer saying as an explanation for the delay?