She was told she couldn't get a loan modification after being on a forbearance plan for the last 5 months.

Hate to give up control of my building.I think i've talked myself into going for it as long as the repair/modification numbers aren't too bad.

You both can mutually agree to modifications to the current lease but no one "has to" sign it.

Economic aspects are scarcity, modification or improvements, permanence of investment or fixity and area preference or "situs" which may include intrinsic values or satisfies other needs.Real estate is unique, drop back to your Economics 101 class, "factors of production" in economics are land, labor, capital and entrepreneurship. land is the only factor that can not be replaced as a factor or requirement to produce goods or services, all other factors may be substituted, if you have less capital, more labor may be used to obtain the desired outcome. 

Don't expect any working something out or modification or anything of that sort.Rehab money is usually given to you only once work is done, not up front.  

Definitely more advanced on the re-vitalization scale & pricier than some other neighborhoods, but very cool to see such pride in ownership.

Most are handled through loan modifications with the bank.

For this reason, with "traditional" companies, like State Farm, it is vital that values of property are accurately reported and updated annually to reflect inflation and other increases in cost.

This is a vital step in the art of negotiating.

Some people leave the property abandoned because of possible foreclosure instead of trying for loan modification.