If the borrower can not pay off the loan within the prescribed number of days, the lender can foreclose.Back in the good old days, when mortgages where assumable, they also did not prohibit junior liensFew lenders want to be in the position of holding a second when the borrower is in default of the terms of the first.  

. :-)I always use actual numbers and don't prescribe to the 1% or 2% or 50% rule-of-thumb or what ever they call it.

They do the four prescribed jobs and get paid a nice place to live.

I can't say that I am an experienced investor but I do everything with a nice dosage of caution.

Code § 1701j–3 - Preemption of due-on-sale prohibitionsSee the exceptions(d) Exemption of specified transfers or dispositions With respect to a real property loan secured by a lien on residential real property containing less than five dwelling units, including a lien on the stock allocated to a dwelling unit in a cooperative housing corporation, or on a residential manufactured home, a lender may not exercise its option pursuant to a due-on-sale clause upon— (1) the creation of a lien or other encumbrance subordinate to the lender’s security instrument which does not relate to a transfer of rights of occupancy in the property; (2) the creation of a purchase money security interest for household appliances; (3) a transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety; (4) the granting of a leasehold interest of three years or less not containing an option to purchase; (5) a transfer to a relative resulting from the death of a borrower; (6) a transfer where the spouse or children of the borrower become an owner of the property; (7) a transfer resulting from a decree of a dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property; (8) a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property; or (9) any other transfer or disposition described in regulations prescribed by the Federal Home Loan Bank Board.

There are even web sites that "prescribe" the animal for a small fee, having never even met the individual.

Account Closed someone who is listing a house with a realtor has likely signed a listing agreement with them for a prescribed period of time.

A couple of year ago they also decided to cap the rent increase guideline, so it cannot be above 2.5% in any year, no matter how high inflation is.Also, I'm not sure how it is in BC, but in Ontario a tenant needs to be given 90 days notice of a rent increase, and it must be on the form prescribed by the LTB or it isn't valid.

That's why I said to him, "What about the doctor who prescribed it?  

@Michelle Romano, Doing a 1031 exchange (selling your current property and following a prescribed process to buy another investment property) will certainly defer all federal tax and depreciation recapture.