I am glad they didn't ONLY declare a moratorium on evictions, but also foreclosures.

I'm not sure if a "no fault eviction" exists, but it would be pretty awful for a person to have to declare that they were evicted even though they were a great tenant (just guessing here; maybe you do have a really good reason to evict, but you didn't mention it).I'm not a landlord yet, but I could possibly find myself in this situation because of our current one (we're abroad and when we move back we may want to live in one of our rentals).

I secure the deal with my earnest money.I then flip the deal to another investor at a 26% discount, keeping 4% as commission.The real benefit is that I was able to effectively assign the deal for 4%, take no risk, get paid at closing and fully declare everything on the HUD 1.

If you went down this route, do get council to help you craft some statement for both side to declare everything you discuss.Good luck!

I was offered existing properties by a friend in Muscle Shoals, AL in A neighborhoods.

2) Assuming there are no other lien holders (not even a first mortgage), what happens if the property owner declares bankruptcy while I own the lien (a) prior to foreclosure proceedings, or (b) after foreclosure has been started?

@Sean McNealley That is a good question because technically they will just need a letter from a licensed therapist declaring their pet is a ESA.

On your 1040 tax form you will be required to declare the address of the property and you have to certify the number of personal use days which in your case will be 365/365 until the year you move out.My point may have seemed harsh to you, but what I meant is if this was a good idea, everyone would be doing it. 

But in the end, the landlord must follow the law ... and failing to follow it leads the judge to declare the rental illegal and hence not entitled to any tent, even rent that may have been collected already.

Originally posted by @Steve Vaughan:I wouldn't do this forbearance thing lightly.I can see future 1003 Universal Loan Applications asking this in the VIII Declarations:Been declared bankrupt?