Either way, they are optional and the due on sale is not something a lender is generally required to do, unless there is an agreement between the note holder and loan servicer to follow such events of default to be cured by foreclosure without other consideration.When you do a sub-2 you should use a deed in lieu of foreclosure agreement as a cure for events of default, if your attorney is doing it another way and it is not against state law, your attorney screwed up!

If they hadn't paid by the end of the "three day notice to cure or quit" I was back at the JPs office filing for forcible detainer.The problem here isn't the tenant, the problem is YOU.This is a business, not a hobby.

But that also suggests they have no money at all in the bank too - which means even if they could count it towards reserves, they don't have the working capital in the bank that you need to invest either.The bottom line is that money from a 401k won't necessarily cure everything.But the main argument is whether I believe an investor will get far better return pulling their money out of a 401k and investing it in real estate.

I did that and well it didnt "cure" the money spending bug it did give the wife some perspective at least as to why I am doing what I am doing.  

Originally posted by @Account Closed:@Ellis San Jose If you own the property out right you have the right and if it is finance the lender has the final say if they allow a subject toThat is exactly why I am ok with the terms of the contract & expect the lender to follow the rules as well to cure a breach. 

What is the amount to cure the note (back payments and fees)What is the total PITI every month compared to Market Rent?

You'd have a right to "cure" the violation.

There is no one style of organizational structure that is a cure-all for every type of business.Consult a local attorney soon.

Provided that you were not aware that the property had lead based paint, I would also echo what others have said regarding the current tenant as most states have guidelines regarding the withholding of rent that require prior notice and a period to cure. 

I would send the tenant a three day notice to cure or quit and also a letter indicated that the lease is not renewable.