The Mortgagee being dead (if they really mean deceased or out of business) doesn't affect the legality or enforcement of the Security Instrument (Mortgage/DOT) and Note.A "Note Judgement" which is not a technical term, seems to mean the borrower can only suffer from a Deficiency if one is pursued.

., but has some minor revenue as well.My wife has had business expenses, with no revenue, for her music career.  

He is fixing to finish music recording school as an sound tech in about 3 months and then should be able to land a job.My brother owns a car dealership and I can get the same car much cheaper or his current car this car place made a buyout offer.

Those are antiquated instruments used primarily as predatory devices.  

So glad you have joined us on this journey.It has been so instrumental in our investing journey, and in my growth as a real estate agent. 

It combines features of a HELOC where it factors money daily (how you save your interest), it takes the max ceilings and floors for rates like a ARM mortgage, and it also acts as a checking/savings account in that you can store and draw money from it for the life of the term (usually 30 years) unlike a HELOC where its 10 year draw and 20 year Principal and interest no more draw after year 10.Where the benefit comes in is opportunity cost of interest since interest is factored daily you could park your pay checks, savings, and other cash instruments into this LOC or HOA loan and save on the all differential in daily interest charges that would normally be paid with a standard 30 year fixed mortgage or other typical mortgage that factors interest/amortization "monthly."

@Chris Music Chris, thanks for your valuable feedback.  

That eliminates a lot of the talking, music, kid screaming noise.Another cheap option would be to buy a hallway runner carpet, and padding for under it and give it to your tenant.

I have a small, SFH 3 bdrm and rent 1 bdrm to 1 person - as the ad clearly states.I had a couple reply recently - went on and on about being older "professionals": "We just want to make music and bring smiles to people.

They're the ones who will park crazy and take up two spaces, "forget" to pay rent on time, play music too loud, etc.