Sure markets shift and modifications to the system may be necessary at some point but a proven system can take alot of the fear & risk out of it.  

Does anyone have a recommendation for a good loan modification company.

Here in Canada, legislation around both privacy and UCE would necessitate you honour any request to remove someone from your distribution list.The law aside, it would be the ethical thing to do as well.

Just going to share yet another ironic observation of mine:To reply, (as the owner of a rental property) having a 3D Virtual Tour with Professional Floor Plans does many things all for the price of one media package:3D Virtual Tours can dramatically increase the efficiency of property management in many ways.For rentals, the marketing media is entirely recyclable.Unlike a home for sale, the same virtual tour, images, and floor plans can be used once a tenant moves out;remote access to information about a property without having to visit the locationtours can be tailored (with tags and image tags) to meet the needs of rental properties, including detailed information about various "hidden" facts, like circut breaker panels & details,  installed appliance details, documented feature conditions (flooring, windows, carpets, walls, lighting fixtures, etc), and more.our tours include an "On-Screen Measurement Tool" that can be used remotely to measure aspects of property elements remotely;Used as an initial step in the SHOWING process:manager can easily SHOW a currently occupied property online without the need to schedule with an existing tennant;can save the manager valuable time if the home doesn't meet the prospects' needs;gives the prospect more information about a rental than still photos;if a prospect reviews the virtual tour and is still interested, you have a more serious prospect;As-Is Property Documentation can be used as evidence in rental conflicts or litigations, especially when it comes to damaged property;We also offer Construction Snapshot Views for rehabs or new construction; the ability for a property manager or contractor to review what is behind the drywall can be critical to making repairs or modifications;Laser-Accurate Measurements, Square Footage calculations, and Professionally Drafted Floor PlansMore than sufficient evidence if you are challenged with a SqFt dispute;Floor Plans make it easier to rent a home because it makes it easier for the prospect to make a decision;As-Built Floor Plans and Measurements are invaluable to any contractor and construction project;Tours can be assembled into a Catalog, essentially giving you a portfolio of properties to present for various reasons;There are more benefits than I can imagine. 

You should probably know that before closing.That no modifications, verbal or in writing have been made to the lease.When the lease went into affect and when it expires.If the tenant has paid any rents in advance and how much.Any rent concessions given by the landlord and how much.Whether the tenant is or is not in default of the terms of the lease.Whether the landlord is or is not in default of the terms of the lease.Any additional provisions or other agreements between tenants and landlord.In Colorado, there is a standard Estoppel Statement that folks can use and if you're buying a property with a tenant and using the correct state issued income contract, it has deadline dates and a section about estoppel statements already included.

well, if both are on the loan, then a straight out modification may be difficult. when a married couple buy a house and both are on the loan, they are both agreeing to pay. the income hasn't changed as individuals. getting a loan modification is typically granted when the entities have suffered a loss of income and can prove that they won't be able to make payments.this may be difficult to get a modification approved, but a short sale may be possible as the bank may take a bigger hit if it went to auction (foreclosure).

I'd probably put it in writing that there would be no modifications and a written reminder that their lease does not allow sublets.I do month to month specifically so I can get rid of tenants like yours.In this market, I could probably put up with the whining, but as soon as they abused my workmen, they'd get their notice to move.

I have a friend with some weird circumstances, here's the story:Person A can't get a loan but has income.Person B took a loan for Person A for a duplex at 500kPerson A paid back Person B for Down payment and is paying Mortgage on time for 10 yearsAfter the bubble burst, property price dropped to $200kPerson B did a loan modification for Property in 2014.Loan is now $200k.Person A now found his calling and is leaving the country.Person B buys out Person A for $130k cash and continues paying mortgage (since its his anyway)Loan Modification had a clause upon termination of mortgage a 25% fee is due of difference between initial loan value of $200k and current property value at termination.Person B wants out but would want to see the $130k back somehow.The two units are rented out for a total of $2000/monthThis is in Chicago 60618.Comps are $350k~$500k depending on conditionTaxes are about $6k annually.Water is about $1,500 annually.Tenants pay other utilities.How would I help Person B (my friends uncle, Person A is family as well), at the same time get some value out of it?

Since the lien is from 1993 the first thing I would check is to see if the original note has a final maturity date if that date has passed and there have been no extensions or modifications then most likely the note has been paid off.

If very underwater, get a lease option conditioned on getting a loan modification.