I am thinking a small association could quickly get into trouble when a hefty percentage can't pay putting too much pressure on others, a domino affect taking place.Another measure is your total outstanding past dues (receivables on balance sheet) that should not (according to our lender) exceed 10% of your yearly dues.

My outstanding loans for the 3 other properties are 119k, 149k, 147k all at 30 year fixes 6% and below.

You make sure that the details of the fees are in the lease/contract the tenant signs, and if they don't pay the fees owed, you evict them (just like if they don't pay the rent owed).In fact, it should be stipulated that rent payments from future months be applied first to outstanding balances, so in reality, they will be short on their rent payments, and not on their late fees (in other words, the rent payments cover the fees and then they are short on rent).

When I seen the house all the structural work had been done, the house had been completely rewired the appraised value in 2007 was 175,000 the outstanding mortgage amount was 91,000 .

Once you have a strong track record, you will be able to offer a smaller percentage and still offer an outstanding return to your investors.

Their home is underwater (bought for 500k+ in '05, recent comps price it at 141k-200k).Here are additional details:-Current on payments, next payment due early next month, cannot make February payment because of engineering fee and temporary housing costs (family is staying at a hotel)-Both spouses have excellent credit, high 700’s to 800-Lender is BoA, outstanding balance on loan is 315k on fixed loan with 10 years left -House is red tagged by city, city requires engineer to do soil samples and analyze hillside risk post-landslide in order release the red tag status-Filed a natural disaster forbearance to suspend the payment-Filed claim request secondary to homeowners insurance denying the claim -Preliminary report by geotechnical engineer estimates 80k-200k to repair and install proper drainage to hillside adjacent to house-Property repairs estimated to be around 10k-Property damage:o Carpet o A couple windowso Dry Wallo Mold—water pooling from the back door, no proper dry out has been done (probably much more additional work/costs on top of original homeowner 10k estimate)They're thinking about filing for bankruptcy and foreclosing on the home.

First sorry for the bad news.Your security agreement or deed of trust will have language somewhat like this:Borrower agrees to maintain and keep in full force and effect a policy of insurance acceptable to the lender, while any principal herebt secured remains outstanding, insuring the subject collatefal property against all insurable perils, and if at any time Borrower fails to......The borrower is responsible to obtain and maintain insurance against all perils insurable.

Well, as to the value to be offered, after reviewing all the information submitted and inspecting the note as well as the security agreements, the loan file, origination documents and working papers together with settlement documents and the original contract and in taking into consideration the outstanding liens, accrued taxes and costs expected in collection of the debt, and in consideration of the collateral, I would present an offer in the amount of:$352,687.29ARE YOU KIDDING ME?

I use Farm Bureau and have an outstanding agent, prices are very good.

Do a letter of explanation and pay the outstanding loan/debt off in full at and through closing.