With the Obama plan guidelines a loan modification can yield:-reduce the principle balance of the first mortgage up to 33%-have the monthly payment reduced to 31% of the borrowers income-"waterfall" payments with a floor of 2% increasing annually to ~5% over a period of 30 years (like a neg am because it will add to the principle balance)I ran into a situation last week where the person owed 550k and the FMV was around 300k.

Yes, I know this will not be easy, but I don't think anything worthwhile is.I'm already feeling far more confident/focused/calm, just from planning/budgeting more in depth than ever before.

Values are not skyrocketing in Nebraska so just calm down and save your money.

I have seen many refer to the 90/10 waterfall, but it seems like in this situation I am taking on more risk and contributing monetary value through the construction loan which is key to realizing the full capacity of the project --is 90/10 really a valid equity split or is there another split that makes better sense in this scenario?  

Be calm, polite, respectful, fair, firm and professional.Start with the correct notice for this type of situation.

I have two rental properties so far.I like: when its calm and peaceful and those rent checks show up at the beginning of every month.

I'd guess she might calm down by the end of July, and the reality of having to look for a new place will have settled in.

Keep calm and keep moving on

I ran there land development efforts.. from site selection through entitlements then resale. so like I said they got the waterfall's at exit but made their money on commish and PM and management fee;s if course,, 

Although I will be honestly I have put my investing on hold until the market calms down a bit, always enjoy making new connections!