If in fact we exceed this number would we then be penalised or could we at that time make appropriate modifications as for how we are to be recognised by the state for tax purposes?

That will only produce a result assume the borrower made all payments along the way in full and there was no modification along the way.The capacity to figure that out is just a little math.

The other 1.7 million include modifications which have a mix bag of results with a high re-default rate.

I'm sure you've heard about commercial workouts or loan modification, where banks are [u]sometimes willing to accept lower than the amount owed on their debt.

Tell her you are more than happy for her to pay for things that are in regards to preference (you should be prompt with repairs) but that you need to approve any modifications to the structure.

We had to make modifications to bring it to "current" code.

Even though I was able to secure a loan modification, I wouldn't be able to sell the house without bringing about $20 grand to the table.The realtor menitoned renting the place out, but I have been burnt in the past with crappy tenants.

I spent years redoing these contracts and making modifications so that the proposed deal would go through.

The double walls are fine, although fishing electrical through 1-2 feet of (again) collapsed plaster at the bottom can necessitate cutting holes in the wall - you can't poke anything through that stuff.Anyway, that's been my experience - good luck!

Could the homeowner possibly do a modification first - then have us take the property sub2?