It's an amortized schedule, if you keep the loan that loan you will accrue a ton of interest.  

But I like your idea of an incentive to use the system- carrot rather than stick - because the late fee disincentive which she has already accrued doesn't seem to change over her behavior. 

I do not, nor have I ever, liked to accrue a lot of debt.

@Josiah Swartz Out of curiosity, would you purchase this property (or one like it)?  

I know the primary key to success with direct mail is persistence, but just out of curiosity, does anyone find there is a "better time" for it? 

The reason for an attorney is mostly asset protection.I want a guy to help direct moving from a personal loan to an LLC and advise all avenues to help protect me.Lastly, my wife and I are both high income earners and should disaster strike via bankruptcy, lawsuit, etc I want to limit her exposure as much as possible.Out of curiosity chinmay did you go to penn state?

I'm not sure how much it had an impact, but after chatting with them on the phone yesterday, I do think my communications impressed on their minds that staying in a home and accruing a significant debt was not going be good for their longterm financial goals.

If you ever find your curiosity peaked towards the DFW area, hit me up man.

@Ahad Ali Just out of curiosity, what should I expect a CPA to cost me to get things started?

However, your HOA dues may accrue and continue to place liens but without payment, any new buyer would be paying enough to clear the liens.