if you track the register of deeds you may be able to find mortgage modifications which have an updated principal balance.

See text:‘‘(3) MODIFICATIONS TO LIMIT BASED ON TAX21 ABLE INCOME.

. - Build-up/structure real estate company- Small modification on 3rd property in Dec.

You can make money actually doing the right thing that the big banks won't-- having had to do our own "modifications" (a joke) on res. and commercial property-- we know how to do workouts and underwrite as well.All of the above is important to give you perspective on the comments I'll share on turnkey rentals-  We have a lot of inventory now (midwest, southeast, mid-atlantic)-- much of it is/ or has been sold on owner financing or as a turnkey rental.When I model out the exit on a property we pick up -- I look at 2 back ends (excepting the ones we keep in rental portfolio)  1) sell on owner financing 2) sell a turn key rental.1) The owner financing payment has to be affordable and below the market rent for the area to attract a buyer with dinged credit and a down payment that has the highest chance of succeeding in buying the home eventually.

This is a loan modification.

The company also has reminded Servicers of its existing suite of mortgage relief options to assist borrowers, while also making additional disaster related loan modifications available.These measures are effective immediately and apply to borrowers who are unable to make their mortgage payments due to a decline in income resulting from the impact of COVID-19, regardless of whether they have contracted the virus.Forbearance plans provide borrowers with payment relief for up to 12-months and suspend borrower late charges and penalties.

If I start making modification, how would I ever remember what was modified for each tenant?

A loan modification after 4 years of ownership and the amount is higher than original loan amount.

(Join your local REIA, stay active, and be ready to file your own lawsuit should the situation necessitate it.

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