I am thinking out loud and could be speculating incorrectly but this is all we have to work with.While we cannot know for sure what the payment amount is without seeing the note, any modification or forbearance agreement or simply getting the information from the borrower or the servicer, we can make a couple of assumptions and get in the church.

The due on sale is under the note, but sence you have no interest rate risk as a lender, I suggest you add that you have a due on sale without written consent and modification of the note and deed of trust and that consent may be denied at the sole option of the holder.This stems from the fact that a seller financed note is not the same as a cash advanced note, it is an extension of the sale transaction for the payment of equity based on an agreed sale price.

Jake here are few answers for you;1.There was a add at Craigslist were the Realtor pointed this deal with the details i gave you.When we met i told him i didont bring a realtor to represent me because if he accept to be my buyer agent he will make a bigger check.He didont list the property yet because the owner was not able to get his loan modification and just contact this Realtor.2.My best friend have a real estate license for over 3 years as part time job.

This loan, which seems to be a line of credit, appears to be unsecured.You cannot swap collateral in an out of a loan without modifying the note and also recording a modification of the associated mortgage (or however you do it in FL).

Some banks though I've heard instead of a loan modification they make you refi to remove the PMI.

Typically, they now see themselves as the aggrieved party - 'what's the big deal' was the response we received regarding the modifications!

To add insult to injury, the additional provisions allowing the modification of mortgages purchased in an effort to assist distressed homeowners in avoiding foreclosure could have been the most effective path towards stabilizing the housing industry, but were only referenced in less than 5% of the entire proposal.Stabilizing housing prices is widely accepted by most economists as the best way to solve the lingering recession and potential depression.

In a loan modification scam, a forensic attorney or CPA, agrees to review mortgage loan documents in exchange for a fee.

A low income borrower that obtains a municipal loan or from a non-profit for modifications for ADA access or a sewer line, where debt may be forgiven over time as that gives the lender the ability to require a longer occupancy requirement in consideration of the unique terms.FYI incase someone thinks they can make a standard type loan and require an owner to live there forever, that restrains owner's rights in title, the ability of the full use of the property.

If things change, you can always go abck and make ammendments to the original or modifications as needed.