We may apply any payment to any outstanding balance regardless of any notation on or with the payment.Therefore, if the tenant does not pay the late fee, they have not paid their "rent", and may suffer any appropriate consequences for not doing so.

But you don’t have to suffer this fate!

It is not logical that a homeowner who made some attempt with the lender as opposed to making them take the home in foreclosure suffers the same damage.

XXXIII.DEFAULT BY SELLER: In the event that Seller should fail to consummate the transaction contemplated herein for any reason, except Buyer's default; (i) Buyer may enforce specific performance of this Agreement in a court of competent jurisdiction and in such action shall have the right to recover damages suffered by Buyer by reason of the delay in the acquisition of the Property, or (ii) may bring suit for damages for breach of this Agreement, in which event, the deposit made hereunder shall be forthwith returned to Buyer, or (iii) declare a default, demand and receive the return of the deposit.

XXXIII.DEFAULT BY SELLER: In the event that Seller should fail to consummate the transaction contemplated herein for any reason, except Buyer's default; (i) Buyer may enforce specific performance of this Agreement in a court of competent jurisdiction and in such action shall have the right to recover damages suffered by Buyer by reason of the delay in the acquisition of the Property, or (ii) may bring suit for damages for breach of this Agreement, in which event, the deposit made hereunder shall be forthwith returned to Buyer, or (iii) declare a default, demand and receive the return of the deposit.

I think I have watched them all now...I even managed to suffer through my own.

Four years ago I was involved in a serious auto accident that nearly cost me my life.I suffered a broken hip,pelvis and femur.Fractured elbow and clavicle.Broken ribs and a punctured lung.I was in a coma for 10 days.Yet,through God's grace I was allowed to live.I had to learn how to walk again while undergoing multiple surgeries to remove and replace hardware that was installed to save me.Meanwhile my personal life fell apart to the point that my wife and I divorced as well.So that leads me to right now in my life.I want to be able to learn about the real estate investing business.I would love to enjoy networking with likeminded individuals that would help me grow my business.The benefit of the summit would be tremendous for me.The last reason for my interest is my mother she's stuck by me throughout all of this and I would like to be able to repay her by being successful in this endeavor.Anyone that would be as generous as you to help others must be a special individual.ThanksDemond

So, all investors will now suffer from the acts of a few acting badly.I don't see anything in the Act that concerns itself with making a seller financed marketable, there seems to be no intent or concern with a portfolio held by an individual, no benefit there really.

Plus, if there's a housing downturn, it's the frontier of development/gentrification that will suffer first, and most, so there is risk involved in that.

Ask your wife if she likes nice things or suffering a bit to have a better future.It's sounds like she's not entirely sold and that's why she's looking at other places even after you went under contract?