Further, Tenant agrees that in the event any adminstrative fee be assessed, such shall become immediately due and payable and if not paid, such amounts shall become due as rent with current amounts then due and if not paid shall be deemed a default in paying such rents as required.This (these) provisions were used in HUD Sec. 8 rental agreements, Federal and State economic development funded properties where requirements existed for leases were required to be approved under low/mod income housing restrictions.

odyssey=mod|newswell|text|FRONTPAGE|sA sitting state supreme court justice accpeted a guilty plea for mortgage fraud involving her short sale.

After seeing the statute, looks to me like investors should see if the could get with a non-profit that is involved with low-mod housing, the Texas Home Investment Program....probably a grant program, if not otherwise restricted.Those saying they only do commercial as they loan to investors or contractors, well, there is no specific exemption to commercial there, defined as any residential home, being property oriented, I do see the argument both ways, I'd tend to look at the bigger picture, a contractor in construction would be commercial, but to an investor who allowed a wrap or lease/option (6 month limit in Tx.) with a homebuyer assuming that loan , may not fly, certainly not after 5.Lastly, my above post concerning prudent lending, I'll guarantee you that exemption at 5 is not a license to do charge high rates, set early balloons or offer loans without any qualifying due diligence, don't need rare occassions and wild scenarios to demonstrate the need for fair and prudent conduct or the need to live in fear while doing RE.

I'm having my assistant send out a "your options" letter and making phone calls to the borrowers in an attempt to do a loan mod and keep them in their home.

I only thought about this after listening to one of the BP pod casts.  

We have at least 40 coffee pods, creamers, sugars etc.Plus we put out a wooden wine box filled with goodies.

Mods - just curious why my post was removed? 

Often times, the borrower who sells on “Subject To” has been a problem borrower anyway (lates, loan mods, etc)If the lender calls the note, and forecloses, that shows up on the seller's credit report.

The pod casts are something you should start listening to, the learn section has an enormous amount of excellent information.

Could it be because an reputable loan mod company is trying to help clean up their industry?