Just guessing but could it be that these homeower's lenders modified their loans, throwing past due balances and legal fees on the back end and charging fees for the processing of that modification?

I would appreciate any contacts or leads in the right direction but time is vital in this situation.

Altimatly if the deal is great and you buy it, you can try to modify the loan and ask the borrower to sign a modification note.  

Did they do a modification?

@Gino Barbaro I would 100% agree that those are the most vital steps.

.** doublecheck with your building department for local code modifications.**  if the property is in Oakland, CA, the Climate Zone is 3, so the insulation for frame (wood stud) walls should be "20 or 13+5" which means use R-20 batt, blown, or spray foam insulation (if it fits), or use R-13 batt insulation along with a sheet of rigid R-5 insulation behind the drywall.

I do believe finding partners that lived through the last cycle is vital because when the going gets tough, the flakey will bail, but those that have lived through it will be able to weather the cycle but also pick up on the opportunities left by those that throw up their hands and run.

It is vital to understand the responsibilities you take on when entering this industry.

I can easily have modifications to clarify points for my clients.

This allows you to focus on what’s vital to you, whatever that may be (work, business, charity organizations, time freedom, family time, travel, helping others, etc…), while living the Cash-Flow Life!