If you're able to obtain the HELOC's for contingency planning purposes the terms are usually not fixed and they can still freeze or modify their line with out notice in the past.

I'm new to all this, but what if it looks like the loan was modified and then defaulted on?

With all the current regulations being implemented to stop evictions around the country, has anyone thought about trying to modify current leases or start new leases on month to month terms instead of long term so that landlords would be able to remove tenants not paying and not be locked into terms without being able to evict?

Usually, terms are so open that if you get a large dog they can claim your obligations changed and modify or call your loan......well, almost. :)

It was modified at some point in time and it apparently is now an investment property for her.  

At the second meeting, the park owner may take into account the information on comparable parks provided by the committee, may supplement the information provided to the committee at the first meeting, and may modify his or her position, but the park owner may not change the information provided to the committee at the first meeting.

So, what we do on we make a HML is once we get the take out appraisal to establish the value we will modify our existing HML to raise the loan amount to the max loan to value for the take out product, then proceed with the refi.

Also, I don't mean to be presumptuous so forgive me if this is already on your mind but... if you have future ambitions to modify the property via construction, you might want to mention that to the lawyer you may counsel with.

If you wait, then additional fees/costs will be involved as the bank will need to modify its mortgage.

After I have the note, I can modify the loan or do anything as the holder of the note and if it is in defaut, I can take it to foreclosure as well.