I know that you have obtained some modifications for MH dealers, but so far I don't see anything so exclusive to MHs that would not apply to other housing.

Apparently, the Principal refi is the 'Loan modification' whereas I am doing a Short re-finance which means that the lender is willing to take less than what is owed on the property and I go with a FHA financing.

That could be a cash flow play for some investors who understand how to restructure the loan through a modification.

@Bill Gulley, and @Jon HoldmanI know this is an old thread but I have a similar situation to @Daniel Dietz with a bit of a twist.What happens if a note is modified and a few years later the private lender passes away (leaving the note to the state - no heirs).I tried to go to the county recorders office but was told that they do not record modifications to note terms. 

I will read your blog and also PM you as I would like to know a little more information on the specifics of your companie's note portfolio you offer to investors.One thing i can't get my head around, though, is if the 2nd lien holder has all of these rights to protect it's interests...modification, foreclosure, etc...why on earth don't they exercise it as opposed to selling the lien to an investor for chump change?

Here a lot of house are built in the late 50's or early 60's and with a lot of modification.

I was under the impression I would do that to call and get their story and see what we can work out then any modifications I would bring to the servicer. 

If they require both owners to sign the note, this would necessitate a non-recourse loan due to the IRA's involvement.

Additionally, a TPP will typically have language in the agreement regarding a loan modification once they borrower has successfully completed the TPP.

_______________________________________________________AssignorDate_______________________________________________________AssigneeDateExample 2:ASSIGNMENTOFCONTRACT TO BUY AND SELL REAL ESTATEFOR VALUABLE CONSIDERATION, the receipt and sufficiency of which are acknowledged, the undersigned (“Assignorâ€) hereby assigns to_____________________________ (“Assigneeâ€), whose address is______________________, all of Assignor’s right, title and interest in and to the Contract to Buy and Sell Real Estate dated ____________, 20__ between ___________________, as Seller, and Assignor, as Buyer, as modified by__________________________________________________________________________________________________ [describe amendments, if any, or insert “no modificationsâ€] (collectively, the “Purchase Agreementâ€), including but not limited to any right Assignor might otherwise have or acquire to return of any earnest money deposited by Assignor.Assignor represents and warrants to Assignee that (1) Exhibit A attached to this Assignment is a true and complete copy of the Purchase Agreement, (2) the Purchase Agreement is in full force and effect and has not been modified in any way (other than by any amendment or modification referred to in the definition of Purchase Agreement above), (3) Assignor’s interest in the Purchase Agreement is free and clear of any prior assignment and of any lien or security interest, (4) Assignor has good right and lawful authority to execute and deliver this Assignment and to assign to Assignee all of Assignor’s interest in the Purchase Agreement, and (5) no party to the Purchase Agreement is presently in default with respect to the performance of such party’s obligations under the Purchase Agreement.By accepting this Assignment, Assignee assumes and agrees to perform all of the obligations of the Buyer under the Purchase Agreement, including but not limited to any obligations to be performed after closing thereunder, and to indemnify Assignor against any loss, claim, damage or expense Assignor may incur by reason of Assignee’s failure to perform the assumed obligations on a timely basis.Signed and delivered as of _________________, 20__ .