Just out of curiosity 

The note should clarify that the interest accrues and principal and interest are payable at the earlier of the resale of the property or whatever the loan period is (usually 12 months).

Out of shear curiosity how did you end up with something in Quincy? 

Out of curiosity, can you let me know what areas were your unit in?

Xorge- sounds like this tenant is already off to a rocky start, did you happen to screen them initially out of curiosity?

This is a more curiosity question than anything.For instance, let's say you have an FHA loan on a $100K property with 3.5% down, that's $3500, and the market turns for the worse and your house is not worth $100K but you still have $3500 in it.Does it make sense to get the house reappraised at the "market value" (ie. less than $100k) to increase your equity and potentially refi out of an FHA to a conventional loan?

Out of curiosity, how close to downtown are you?

Just out of curiosity, how did you find this particular property?

The interest can accrue, they don’t care.

All you note investors out there, is any one aware of a state that allows attorneys fees or foreclosure costs to be not only added to the outstanding principal the borrower owes but also to accrue interest in their own right?