So the sfr are being bought and tore down for higher and better use apartments  If the building is up to code, building and safety may let it stand with some modifications.

Not only later this year, but there will be more ARM resets in 2011 than there was in 2008, creating a huge potential for another (or a continued) real estate depression through 2012 and beyond.Additionally, many of the loan modifications that are currently being done are short-term modifications (for example, dropping the interest rate to 1.5% for 2-3 years).

Unless these owners and developers have a massive emergency fund, OR if their bank can offer some time of a modification or a forbearance on the debt, I don't see a way out.

Need to do an extension, modification, and who gets the document, me or the borrower?

Agreed with Chris...start with your standard state contract and make any modifications from there.While a lot of people prefer a "one pager" contract, in my opinion, the downsides of a short contract far outweigh the benefits...

Some of our distress criteria -Tax Suits, Loan Modifications, Divorce, Canceled Auctions, high Days on Market etc.

At least in my case most of the graduate students have not been in the United States long and need a little help with things we might think are obvious and as such necessitate more management.  

Likewise, transforming the main house into {4} apartments or condominiums would necessitate a similar or greater sacrifice to meed modern fire codes and to insulate and install separate HVAC for each.  

The only modification in practice that most MH investors need to comply with DF are along the lines of documentation.Who can make loans- the SAFE Act mandated licensing.

Genetic modification of that which is supposed to be our food is now the norm - any surprise everyone is sick...?!