they will lose a ton of interest on 5.5% loan if we refi with someone else, but it would likely be 7% so its a lose-lose, they will lose our business and it could be in their favor to just drop the abusive term, ridiculous that a conventional loan doesn't let you keep the place after moving out. never saw that coming and this type of "pulling a fast one" is exactly why the other buyer who couldn't be present on closing specified that the power of attorney for signing closing documents was limited to exclude anything unnecessary. 

This goes to the title or escrow agent and along with a HUD or settlement statement documenting the fees paid out clearly states and is agreed to by all parties that the EMD funds are loaned and must be repaid at closing from the assignment fee owed to the wholesaler or from the sellers funds. 

Financing provided through this program is only available for properties located in Michigan or Florida.Available Product Type: SOFR 7/6 ARM, SOFR 10/6 ARMLoan Amount: $766,550 MaximumLTV: Purchase and No Cash Out Refinance - Maximum 99%Prepayment Penalty: NoneLoan Assumption: NoneEligible Properties: 1-unit dwellings, attached and detached condominiums, PUDsEscrow: An escrow account must be established for property taxes, and flood insurance, if requiredUnderwritingNo Private Mortgage InsuranceOccupancy – Primary residencesMinimum Credit Score - 700DTI – Max 43% (UW/Mgmt exceptions up to 50% with minimum 3 documented compensating factors)Student Loans – If in deferment, no qualifying payment requiredDown payment of 1% must be borrower’s own funds, while closing costs and prepaids may be gift fundsAttached condominiums require a 10% down paymentEligible Borrowers – Protect and serve heroes are defined as employees of public or private education institutions, employees of medical and healthcare organizations, all first responders, and active or former military personnel.Servicing: Retained

Understand the basics of private lendingResearch real estate marketsDetermine your investment strategy and criteria for loans, including:- Amounts- Interest rates- Repayment termsCreate legal documents with a lawyerNetwork with real estate professionalsPerform due diligence on potential borrowers and their projectsBegin with smaller loans to gain experienceMonitor your investments closelyConsider joining a private lending group for additional resourcesStay informed about real estate trends, lending practices, and legal regulations

I just don't want to go through the hassle of updating documents, filing a statement of info, etc.

I'm Diogo Capela and it would be a pleasure to meet you and give you some insights on the portuguese real estate market.In fact, I can send you some documents with information and websites that I believe are relevant to you.

.: Quote from @Greg Scott: Based on my experience with Hard Money Lenders, this post does not make any sense to me.Did you not file the loan documents with the county as a lien on the property?  

Just make sure your rental agent has all documentation ready and is transparent with tenants about anything that comes up.

What kind of documents?  

All of our services and charges are listed on a document on our website.