I'd definitely not send him checks, end of next month he needs a license to service OO consumer debt, if he's not a broker he's probably not a servicer would be my guess, but requiring pre dated checks is an issue as well.You'll need evidence of his requirements, not phone calls but you can record calls if you comply with state law concerning recorded conversations, you need to see an attorney for that, a prosecutor may assist you.

@Waylon Themer ... it took me a while to respond to this because I had to wipe the drool off my keyboard after seeing your debt terms.

I do not need the cashflow for daily expenses; I would rather reinvest it to grow my real estate holdings.I have zero debt but do lease a car and rent a condo for $1000/mo.

i am hearing that many park owners are eliminating seller financing of homes.

You could negotiate the terms of the Promissory Note, but you may not be able to negotiate the terms of the recorded debt instrument (Mortgage, Security Deed, or whatever it is called in your state) since you are no longer the title holder.One way to address this is to consider selling with a Lease and Option to Purchase instead of selling with a wraparound.

If she was ever served with a notice of foreclosure, even if the lender did not follow through with the sale, she can't do anything with the property except sell it and payoff the lien.The law allowing for the forgiveness of debt to avoid taxation is about to expire so now that she has waited she may have a tax liability on amounts written off from her underwater property.A short sale would be best, if she qualifies, but to do a short sale the owner must have a financial inability to pay, I'm not sure the bank has to agree if she is sitting on cash.IMO, she needs to pay as agreed, catch up the loan, then lease it over time allowing the value to come back and then sell it. :)

I'm seeing a more aggressive stance from what is being claimed by members here on BP, such as cash out refis after 6 months, it must be in areas where property values are going back up at a faster rate in general.On the conservative side, prudent lending practices will be stressed, meaning that a lender may not do so much of those "if it makes sense, we loan it" type deals, it may be tougher for a deal to make sense.All in all, I doubt a qualified borrower will see much of a difference on the street as the new changes will be played out in the operations side of the lenders and their relationships between other lenders and securitized markets.Actually there are more aggressive measures in making a loan, the debt to income for a residential loan has gone from 36% to 43% allowing borrowers to qualify with more debt!

Or should I offer, a little more over the monthly debt service so he's making 1000 bucks extra just to sweeten the deal?

Currently, I live in a condo that is paid off with no debt.

But, neither of those eliminates the need for a good liability policy.