We spend so much time trying to figure out how to buy a 30 year instrument we overlook that it is in fact a long term investment.

@Lucas Howes - Mortgages are contracts, so you might want to take a look at the written terms of the mortgage security instrument for the loan.

@Ned Carey that’s definitely a instrument I’d like to learn .

I read this nugget of wisdom from Warren Buffet in a CNBC article yesterday:A 30-year mortgage is "the best instrument in the world," Buffett says.

This is an option.Have you ever wanted to play an instrument or perform?

While researching the court documents and title/deed history, I discovered that both the HOA and the lender separately foreclosed on the original owner and EACH were issued Certificates of Title after adjudication and public auction were done.It appears the HOA and lender fought back and forth for a while but then signed an agreement whereby the lender would pay the HOA a designated amount for past-due assessments and in turn the HOA would release its title claim via quitclaim deed or whatever instrument the lender wanted. 

I'd make sure permitted by "everybody", bank and local law unless we can find a definition elsewhere in the law/reg that narrows the meaning of that word), then you are probably safe from DoS issues with Fannie Mae/Freddie Mac.Here's the relevant language from Jayson's link:"a limited liability company (LLC), provided thatthe mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, andthe LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).The "if" is important, as is the answer to the question "what is a permitted change"?

Wheatie---If you look at a standard Deed of Trust on a normal FNMA security instrument, it calls for trustees fees in the amount of 5% of the loan amount should a foreclosure be required.

Interest-only loans generally have terms shorter than 30-year standard fixed-rate mortgages so the choice of debt instrument depends on the anticipated duration of the investment held.Hope this helps...

Use a Trust instrument as a fictitious pass through to avoid the due on sale clause?