In that case, we usually have to pick up the closing costs since we are basically stepping in for the former borrower.The other type is an assumption and modification.  

She said she can't pay the mortgage and her only options at this point are bankruptcy, foreclosure, or loan modification.

My hunch is that it depends on the city/inspector, but that a signed final permit would be pretty strong evidence that the modifications were made to the property...

I started investing in 2001 after 6 option arms loans and two loan modifications.

Most states will require modifications to the house for use and accessibility.

I was using the Bigger Pockets leases that are included with pro but I signed up for Avail with my newest guest and it was so easy to sign and include modifications - I appreciate the tip!

In other words, any system devised that you use to effect a financed sale of covered properties will be deemed to be a sale by you as you are using the system to circumvent the intent of the Act.The same will hold true in the origination of any financing agreement on a property that is owner occupied, that includes loan modifications for note holders.What are not as much of an issue are  commercial loans, financing agreements made to non-owner occupied properties to be used in a commercial endeavor, like financing to another real estate investor.

It seems to me that in order to negotiate a workout / loan modification with a consumer, you would need NMLS license.  

On the inspection checklist it states all modifications or adaptations of unit must meet applicable HQS and building codes.

Opting for a DSCR loan may impose a prepayment penalty of 3-5 years and necessitate a 20% down payment, potentially making it challenging to acquire a second property without dipping into a 401k.