Hello Fellow InvestorsMy curiosity is driving me crazy.

If not, then you'd have a renewed judgment spelling out the correct amount and accruing interest that you could record in all in the counties where the investor is active.

It's really just a curiosity of mine as there's a property that I'm going to be making a offer just $5k below asking.

Interest only loans accrue interest and you will owe more at refinance than what you initially borrowed which will eat up your equity.You really need to look at the end game and find out if refi is going to be possible.

The only way to know how payment applications are made and how interest is accrued is to read the note terms, don't assume additional amounts paid at other than the due date will reduce costs

I don't think a wholesale deal will come out of this but, my curiosity must be sated!

Out of curiosity, what kind of law do you practice?

My mind was opened and my curiosity led me to real estate investing...Now i know it is hard work and a lot of dedication and perseverence is needed but I am confident I aquire all attributes.

I'd guess your amortization table amount may be off by $15K-$20K after accrued mortgage payments, late fees, legal fees, etc.

Foreclosure proceeding requiring 30 or more days under state laws would not be effected, the intent requiring at least 30 days notice prior to any proceeding to secure collateral.If the MH is taxed as RE and RE is included then the default provision would be according to state foreclosure laws.No prepayment penalty would be allowed.Payments would be first applied to accrued interest, then to any late fee not in excess of ten percent of the payment required or $25.00, whichever is greater, then to principal outstanding.Servicing fees by third parties would be required to be included to the qualifying ratios of the loan.