I don't follow the leap that says that the swaps being worthless necessitates hyperinflation.

There are some stock ones out there but I usually err on the side of an informed experience professional who you can talk to and make modifications as necessary

Prepares offers to purchase or purchase agreements, listing contracts, agency disclosures, real property residential and agricultural rental agreements, real property commercial rental agreements of one year or less, and groundwater hazard statements, including any modifications, amendments, or addendums to these specific documents.Iowa Code Section 543B.3.  

Plumbing repairs necessitated by TENANT(s), family, guests or invitees, carelessness or neglect shall be at the expense of the TENANT.

The problem with many of the homes destroyed was their age - owners want to update/modernize - and making too many modifications adds to costs and time to get permits approved.  

Are there any modifications to the written lease?

If you have a balloon payment the defect may prevent any future refinancing.Another issue is future modifications, such are a new extension of credit and you need to ensure that the priority of the lien remains, so state law needs to be examined.Future sales can be delayed, foreclosure may not solve all defects.Defects in title or the note, DOT or mortgage may render the note unmarketable.The 61 points listed (some may not be a concern and there are basically double entries of the same issue) may all be associated with performing or non-performing notes.In seller financed notes, I can add to that list as those primarily pertain to conventional securitized notes.In that list you'll see issues of self dealing, arm's length transactions and improperly executed documents, these issues are magnified with seller financed transactions.Add property valuations at the time of sale, often over valued.Incomplete or inappropriate servicing records.Application of funds not properly made.The loan is between related parties.Notes in connection with installment contracts, CFD, Sub-To or Option financing improperly drafted, or identified with the contract.Personally property was included in the transaction and financed, security not perfected and that security interest in the RE is overstated.Now, these are some issues to ad to the list provided in the link, but just moving on:Dodd-Frank,Illegally originatedNon-compliant termsServicing is not compliantThe note doesn't have the seal of the MLOIncomplete loan fileBorrower had possession of verifying documents during loan processingAbility to pay not documented or computations incorrectly madeBroker/seller is not registered or in compliance, then revert to the "linked list"MLO is the note holder, seller of the property securedNote is originated by a Trust or closely held entityDeed in lieu of foreclosure, executed by the borrower & originated by the note holder, (escrowed deed for default)Financed options or credit leases with notes being disguised salesOption agreements requiring any contract performance by the optionee.Lease- with financed options having lease amounts under FMRNotes assumed by assignment to a new buyer without lender's approval.Non-recourse notes without asset based justifications or additional security.Any prohibition against the ability to obtain future equity, such as a HELOC.Notes that include cash advances together with equity.Zero interest notesOriginal married note holders divorced, died parties, incapacitated without proper assignments.Tax liens or judgments against the note holder.Notes held by entities not properly filed or in compliance, improper authorizations.UCC filings on note seller's assets, note not released.Okay, getting tired !

As Bill noted these rules were enacted to protect homeowners from unscrupulous bad actors.The main take away from the rule enacted in 2010 is that it became illegal to ask for or collect a fee before the loan modification work it actually completed.

It is good to have separate agreements to keep the tenant/buyer from having equitable interest in the property which would necessitate a foreclosure if the guy in the robe decided such interest existed through "rent credits" or some other substantive reason.

I don't believe any state has modification requirements more stringent than the federal requirements or servicing, so a geographic area may not be relevant in that respect.That's scary to me, buying out of state NPNs from a broker or bank without having your own boots on the ground!