Typically when the homeowner is 90 days late on a mortgage payment the bank may issue a notice of default.

Quote from @Chris Anthony: To clarify we are sellers not mortgage broker. 

Since few lenders have the stomach to do this, it’s also been a great competitive advantage for our business.This horrifies almost every private lender I know.

HML, private money, and OPM it doesn't matter.

Have you considered becoming a private lender? 

I only qualify for about $500,000 with my W-2 income.Without getting a private investor, is there anyway I can prove previous rental income in order to use the potential rental income to qualify for the loan.

Debt Protection: If you have mortgages or private loans, a life insurance policy can protect your family or business partners by covering outstanding debts in the event of an unexpected passing.4.

I've learned a lot since then have become a private money lender and have done a lot of deals.

At that point, the clock will restart by 5 minutes after every counter bid, until the bidding stops.With mortgage foreclosures you'll want to guarantee that the property is vacant to avoid going through a messy eviction battle.  

If there is a mortgage on your primary residence and you are trying to deed your primary residence property to an LLC, you will need to check with your mortgage company if they allow it.