Because the payment is coming from the tenant, and not the surety bond provider, claims are always processed without a fight.If you are interested in considering a surety bond program, I recommend Obligo.

There's a lot of people right now that don't qualify as you have pointed out so we will cut deals for longer lease terms for those individuals that do qualify. 

I have actually been thinkin about cutting losses honestly, I am not sure this is the best investment I could have made as my first but worried about how much of a loss I would have to take.It is meant for S8 for sure, I would have a stringent application process, and give the neighborhood a C from my research.I invested there because it was the first deal that basically fell on my lap where the mentor works with agents that Seller Finance deals, it was only $3k down and had thought the proximity to St.Louis would be attractive to tenants also.I effed up on waiting to post for rent until after all repairs and the COO for sure.  

That route might save you some money, but it would require a bit more of your time to find the right team and manage the process.

What screening process do you use? 

@Will Jones, we are in the process of putting an offer on a piece of land in where we will build a building for one of my businesses and then lease out the rest of the space.  

It was just a waiting game going through the foreclosure process Lessons learned?

You can get these up and running fairly quickly, and streamline the process.

Overland Park, KS vs Kansas City, MO) Very landlord friendly, worst case eviction is usually 8 weeks + $500 + lost rent (cannot comment on individual cases and this is not legal advice) Large diverse metro area - variety of jobs, companies, people can have a career in KC.

What's more, these contracts were never recorded before or during the foreclosure process, and the homeowner was actually in default on the first mortgage when they entered into these agreements.