Once the rehab was done I refinanced out of the private loan into a conventional loan as a primary residence.

@Jake Baker  You should think about a rehab loan if you are going to buy and hold.

The best deal I can find today is one that you buy cash, invest a rehab and when you pull out 75% of your ARV you leave maybe a small amount of money in the deal and you break even (BEFORE DISCOUNTING FOR VACANCY, REPAIRS, etc) Yes that means you leave like 10-25k in the deal and your payment becomes $3000/m and your rent is $3000 a month or slightly less.This is for my local market and for Class B or higher RE. 

Are they really willing to sell and walk away with zero dollars up front?

So if I understand, you would get a loan the normal way and then the bank trust is an extra fee that comes along with owning the property in Mexico?

If the interest rates go up to around 7% again do the numbers still work for the remainder of the loan? 

Quote from @Beth Johnson: We pass all loan servicing charges through to the borrower including set-up fee, monthly fees, and any servicing charges such as payoff demand generation, and loan close out fees. 

I'm learning more about loans and such as I used the VA.

If your loan is $110K then the payment on the 15 year would be $927/month at 6.15%; 30 year option at 6.625% would be $690.

And addressing my item #1 comment, almost always, when a "distressed" homeowner is approached, they initially are grateful to have the loan brought current, but before long they forget the circumstances they were in and you become the bad guy that stole their house.