The Consumer Financial Protection Bureau announced a new rule today to prevent a wave of foreclosures due to coronavirus.Here is a summary from the New York Times:“In most cases, lenders will only be allowed to foreclose on a home if it is abandoned, if the borrower has not responded to messages for at least 90 days, or if the borrower has been formally evaluated for all available “loss mitigation” options (such as a loan modification) and none are viable.Servicers will also be allowed to proceed with foreclosures for borrowers who were already 120 or more days delinquent before March 1, 2020.The new rule also allows mortgage servicers to more easily offer some loan modifications so long as the changes do not increase a borrower’s monthly payments or extend the loan’s term more than 40 years beyond the modification date.”Nice for current homeowners but with the current high prices and low inventory, anyone hoping for a wave of foreclosures or crash may be waiting awhile. 

That being said, if you want to move forward with this for convenience sake, which is the primary benefit, you can always ask for modifications to the contract to clarify that rent comes from her regardless of her abilities to sublet it.

When you're doing work that requires structural changes, code updates, or zoning modification, you will typically need and want plans.

It’s not even safe for you since you’d be subject to any loans behind yours and you’d be screwed if there were any title issues.Instead, assuming it’s legal in your state, you could include a “Due on Encumbrance” clause in your note via a loan modification.

No vacancy time, no tenant placement fee required, just a modification of lease holder.

No other modifications needs.

They will need to perform load calculations to determine required cooling capacity and to also review the electrical system to determine if it can handle the added loads or if electrical modifications will be necessary.

Once we acquire the loan we try loss mitigation with the borrowers in order to get them on new payment plans through forbearance then loan modifications.

Are there any modifications to the written lease?

They did all necessary modifications for compliance.